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New Zealand Dollar to Pound Sterling (NZD/GBP) Exchange Rate – ‘Kiwi’ makes a third day of gains

New Zealand Dollars
The New Zealand Dollar has strengthened for a third day against the Pound and the majority of its most traded peers due to the weakness of the US Dollar and a strengthening Australian Dollar.

Against the US Dollar the ‘Kiwi’ climbed above the 80 cents mark for the first time in a month.

The currency is expected to remain higher against its peers for the rest of the week as traders are holding their positions as they wait for next week’s releases of US data. The Federal Reserve is set to review its monetary policy and figures will show how well the US economy is doing. The data is likely to give the markets a better sense as to whether the Fed will taper its monetary easing policy sooner rather than later. At the moment it’s looking later following the release of disappointing housing data.

Also adding to the currency’s support was the release of news that he Chicago Options Exchange Boards Volatility Index, known as VIX and treated as Wall Street’s ‘fear gauge’, fell to a three-month low for the New Zealand currency.

“We’re going through a bit of a black-out period before the Fed meeting at the beginning of August, and it potentially could be a bit directionless for the US dollar in the next week or so,” said Chris Tennent-Brown, FX economist at Commonwealth Bank of Australia in Sydney.

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“The Kiwi is right at the top-end of the range.”

Thursday sees the Reserve Bank of New Zealand review its monetary policy. Economists are expecting that Bank Governor Graeme Wheeler will choose to maintain interest rates at 2.5%.

Tennent-Brown added; “I don’t expect them to change their outlook too much.”

Current New Zealand Dollar (NZD) Exchange Rates

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The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.7992 >

The New Zealand Dollar /Euro Exchange Rate is currently in the region of: 0.6058 >

The New Zealand Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5208 >

The New Zealand Dollar /Australian Dollar Exchange Rate is currently in the region of: 0.8632 <

The US Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.2512 <

The Pound Sterling/New Zealand Dollar Exchange Rate is currently in the region of: 1.9227 <

The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6507 <

The Australian Dollar/New Zealand Dollar Exchange Rate is currently in the region of: 1.1583 >

The Canadian Dollar/New Zealand Dollar Exchange Rate is currently in the region of: 1.2110 <

(Correct as of 09:55 am GMT)