Home » GBP » GBP to NZD » Pound Sterling to New Zealand Dollar (GBP/NZD) Exchange Rate Declines after RBA Freezes ‘Aussie’ (AUD) Interest Rates

Pound Sterling to New Zealand Dollar (GBP/NZD) Exchange Rate Declines after RBA Freezes ‘Aussie’ (AUD) Interest Rates

New Zealand Dollar Currency Forecast

The Pound Sterling to New Zealand Dollar (GBP/NZD) exchange rate has fallen today after positive signs in Australia had a knock-on effect for the New Zealand economy.

Pound Sterling to New Zealand Dollar (GBP/NZD) Exchange Rate News: Pound has Mixed Performance after ‘Super Thursday’ Negativity Subsides

The Pound Sterling (GBP) has dropped by -0.2% against the New Zealand Dollar (GBP/NZD) today after a mixed performance in the UK Trade Balance figures for June saw the Pound rise and fall in equal measure against many rival currencies. The Pound fell by -0.4% against the Australian Dollar (GBP/AUD), but elsewhere saw a rise of over 0.5% against the Swiss Franc (GBP/CHF) and the Swedish Krone (GBP/SEK).

Although the Pound’s performance today was a significant improvement over yesterday’s dive, the UK currency was still negatively impacted by UK data. The UK Visible Trade Balance deficit expanded from -£8.4bn to -£9.1bn, although this was still better than the predicted figure of -£9.3bn.

New Zealand Dollar to Pound Sterling (NZD/GBP) Exchange Rate Rises After ‘Aussie’ (AUD) Gains are echoed by the ‘Kiwi’

The New Zealand Dollar (NZD) has gained against several major competitors today, after the Reserve Bank of Australia (RBA) implied that Australian interest rates would remain on hold at 2%. RBA Governor Glenn Stevens indicated that the central bank has done as much as it can to weaken the ‘Aussie’ in terms of policy adjustments, which was taken a sign that no additional cuts will be considered. Although this obviously benefitted the Australian Dollar’s (AUD) performance, it has also done the same to the ‘Kiwi’, as the economies of both countries are closely linked and the move inspired speculation that the RBNZ might also leave borrowing costs unaltered.

The New Zealand Dollar has gained by over 0.3% against the Canadian Dollar (NZD/CAD) and the Euro (NZD/EUR) today, but has fallen by -0.3% against the Australian Dollar (NZD/AUD).

Pound Sterling to New Zealand Dollar Exchange Rate Forecast: GBP/NZD Likely to rise in Sparse Data Week for ‘Kiwi’

By virtue of not having any significant data releases next week, it seems likely that the New Zealand Dollar’s (NZD) current gains will level off over next week. After all, although a freeze of the Australian interest rate does support bets for a static New Zealand interest rate, this outcome is by no means assured. The UK Unemployment Rate and Employment Change data for the 3 months through June is due next Wednesday, and any increase or shortfall in these figures compared to estimates will cause the GBP/NZD pairing to shift considerably as a result.

Current GBP, NZD Exchange Rates

The Pound Sterling to New Zealand Dollar (GBP/NZD) exchange rate was trending in the region of 2.3584 and the New Zealand Dollar to Pound Sterling (NZD/GBP) exchange rate was trending in the region of 0.4241 today.

Comments are closed.