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GBP/NZD Tumbles to Fortnightly Low

Yesterday’s high: NZ$1.9249

Yesterday’s low: NZ$1.9091

Pound Tumbles on Brexit Obstacles

The Pound to New Zealand Dollar exchange rate extended losses on Tuesday.

Sterling struggled to hold its ground amid concerns about disagreements on Irish border, but did recover losses later in the day.

While the EU has given Britain a 4th December deadline to improve its Brexit proposals, including its plans for the border post-Brexit, rumours that the UK and EU had come to terms over the UK’s divorce bill lent Sterling support late in the European session.

NZD Outlook: Brexit Developments in Focus

While some New Zealand data will be published over the coming days it is unlikely to be particularly influential.

Instead, GBP/NZD traders are more likely to react to Brexit developments and risk-sentiment.

If the UK government shows that it will ramp up its Brexit divorce offer in the hopes of speeding negotiations along, or if the EU position softens slightly, the Pound could climb.

Key Events

30th November

NZ Building Permits

UK GfK Consumer Confidence

01:00 NZ ANZ Business Confidence

07:00 UK Nationwide Housing Prices

1st December

NZ Import and Export Prices

09:30 UK Manufacturing PMI

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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

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