Moving NZD back to GBP

Hi,

I have moved back from NZ to Scotland, I have some money in a high interest savings account in NZ.

Is now a good time to move it back over hereor should I wait a while?

Good Morning Stan,

The Kiwi Dollar was under heavy selling pressure during the early part of this year as investors priced-in a high chance that the Reserve Bank of New Zealand might be about to throw itself full-tilt into an interest rate cutting cycle. This was the time at which the GBP NZD exchange rate broke above the 2.1000 threshold.

The intervening period has seen GBP NZD pull back and briefly drop below two to one. However, the softening of global commodity prices during the past few months is likely to maintain the selling pressure on the Kiwi.

For this reason, I would consider selling your NZD sooner rather than later.

All the best,

John Cameron
currencynews.co.uk
Ask me a question or get a FREE no-obligation quote