Foremost Currency Group

Make the most of your currency

Talk to our friendly team:+44 (0)1442 892060

GBP/NZD Strengthened by USD Sell-Off

Friday’s high: NZ$1.9536

Friday’s low: NZ$1.9233

Varadkar Threats Pressure Pound (GBP)

The Pound New Zealand Dollar (GBP/NZD) exchange rate struck its highest levels since the Brexit referendum at the tail end of last week’s session as investors flocked to Sterling as they abandoned the US Dollar is light of political developments in Washington.

Sterling failed to hold on to these gains however, closing the week around a cent down from its best levels as Ireland’s Prime Minister Leo Varadkar threatened to frustrate Brexit negotiations unless guarantees are made over the country’s border with Northern Ireland.

At the same time, the ‘Kiwi’ was weakened early on Friday by the release of New Zealand’s latest Manufacturing PMI, as it revealed a slight slowdown in factory activity last month.

NZD Outlook: Sterling to Slide as Investors Await Budget?

Looking at the coming week, the Pound may be forced to relinquish some more ground in the first half of the session as investors shy away from the currency as they await Chancellor’s Philip Hammond’s budget on Wednesday.

Meanwhile the New Zealand Dollar may struggle tomorrow following the latest Global Dairy Auction, with another fall in prices likely to greatly limit the appeal of the ‘Kiwi’.

Key Events

21st November

10:30 UK Public Sector Borrowing Oct

15:30 NZ Global Dairy Auction

If you need to make a NZD transfer but don’t have an account with us just click here to get started.

To keep up to date with the New Zealand Dollar, visit the NZD blog in our Currency News section.

Joe Mayhew

Senior Currency Broker
T: 01442 892 060

© Copyright 2013 to 2018 | Foremost Currency Group Ltd | All rights reserved