Yesterday’s high: NZ$1.9402
Yesterday’s low: NZ$1.9267
GBP/NZD Rate Tumbled on Budget Dissection
The Autumn Statement came under fire yesterday, leaving GBP exchange rates fluctuating.
The Pound ended up falling by -0.4% against the New Zealand Dollar, while seeing greater losses against its other regular peers.
Key issues included the estimate that the UK wage squeeze is here to stay, as well as OBR growth forecasts, which have been downgraded for every year up to 2021.
With little data to refer to, New Zealand Dollar traders instead looked to forecasts for future economic performance.
NZD fell earlier in the week on a recession warning, but a former Reserve Bank of New Zealand (RBNZ) economist, Michael Reddell, has dismissed these claims.
NZD Outlook: Uncertainty ahead for Pound Traders
With no high-profile UK data on the calendar today, investors are already looking ahead to a Bank of England (BoE) report out on Tuesday.
The Financial Stability Report looks at the UK financial sector, including banks and high-profile financial management companies.
If the BoE sees turbulence ahead as Brexit talks continue, the GBP/NZD exchange rate could drop.
Over in New Zealand, the RBNZ will be releasing its own stability report on Tuesday.
Any references to the impact of the change of government will be closely attended to.
09:30 UK Bank of England (BoE) Financial Stability Report
20:00 NZ Reserve Bank of New Zealand (RBNZ) Stability Report
21:45 NZ Building Permits
00:00 NZ Business Confidence
00:05 UK GfK Consumer Confidence
09:30 UK Manufacturing PMI
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Senior Currency Broker
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