Foremost Currency Group

Make the most of your currency

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

Pound to New Zealand Dollar Outlook: UK’s Budget Looms

Yesterday’s high: NZ$1.9512

Yesterday’s low: NZ$1.9359

GBP/NZD Declines on Disappointing Borrowing Stats

The Pound failed to rise against a resilient New Zealand Dollar yesterday, seeing a -0.5% drop despite negative NZ news.

Sterling was dragged down by UK domestic data, which showed a greater-than-expected expansion of the borrowing deficit in October.

New Zealand Dollar traders were largely unfazed by a decline in global dairy prices, leading to NZD/GBP gains.

The Global Dairy Trade price index fell by -3.4%, having previously dropped by -3.5% in early November.

NZD Outlook: Will Hammond’s Budget cause Pound Slump?

The Pound could drop sharply against the New Zealand Dollar later today, when Philip Hammond delivers his much-anticipated November budget.

Brexit is a major factor in UK economic forecasts, so if Hammond believes that the country will struggle during another year of talks then the Pound could decline.

Any NZD/GBP gains may prove short-lived, however. NZ retail sales stats are out late on Wednesday and analysts predict a slowdown in the third quarter.

Key Events

22nd November

12:30 UK Autumn Budget

21:45 NZ Retail Sales

23rd November

09:30 UK GDP Growth Rate

09:30 UK Business Investment

21:45 NZ Balance of Trade

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