Yesterday’s high: NZ$1.8263
Yesterday’s low: NZ$1.8035
NZD Lifted by Recent Polling Data
The New Zealand Dollar advanced against the majority of its peers on Tuesday as recent polling data by Newshub suggested that the National Party is currently 4 points ahead of its closest rival, Labour.
The polling data helped to alleviate some of the recent political uncertainty as polls previously suggested that the election could end with no clear winner, forcing the parties to seek a coalition with the populist New Zealand First party.
Meanwhile the Pound surged yesterday as the UK’s inflation rate leapt from 2.6% to 2.9%, leading to speculation that the Bank of England (BoE) will be push to tighten monetary policy in order to keep inflation under control.
NZD Outlook: UK Average Earnings to Rise?
Sterling may advance even further today as the UK publishes its latest employment figures with an expected rise in average wages in July going some way towards alleviating concerns about a fall in real wages for British consumers.
Meanwhile, the New Zealand Dollar may rally later in the week as the domestic business PMI is expected to have climbed in August.
09:30 UK Unemployment Rate July
09:30 UK Average Earnings July
11:30 NZ Business PMI
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