Weekly Forecast for Pound New Zealand Dollar Exchange Rate (GBP/NZD)

Modified: Friday, 20 September 2013 15:09 BST - Written by Toni Johnson

STORY LINK Weekly Forecast for Pound New Zealand Dollar Exchange Rate (GBP/NZD)

The Pound New Zealand Dollar exchange rate is currently trading down by 0.06% at 1.9112 GBP/NZD. The New Zealand Dollar Pound exchange rate is currently trading at 0.5232 NZD/GBP.

The NEW ZEALAND DOLLAR (NZD) has staged a strong comeback against the majority of the other sixteen most-actively traded global currencies during the past week, sending the GBP NZD exchange rate down from close to the two to one level to its current trading rate of 1.9128.

Support for the Kiwi has been triggered by the news that the Federal Reserve is set to continue pumping $85bn per month into the money markets and by Wednesday night’s encouraging New Zealand Q2 GDP data which showed that domestic economic activity expanded by a stronger than anticipated annualised 2.5% versus analysts’ expectations of a 2.3% showing.

Looking ahead to next week, apart from Tuesday night’s New Zealand Trade Balance numbers for Augusts, which have the potential to be market-moving, the relative value of the Kiwi Dollar is likely to be determined by data releases and commentary emerging from the United States which will affect investors’ thoughts on the future direction of the Federal Reserve’s monetary policy.

The Kiwi Dollar is expected to trade with a NEUTRAL TO POSITIVE bias moving forward.

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TAGS: Currency Predictions New Zealand Dollar Forecasts Pound Ne Forecasts