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Pound Sterling to New Zealand Dollar Exchange Rate Live - GBPNZD Rises

April 15, 2019 - Written by John Cameron

The Pound to New Zealand Dollar (GBP/NZD) exchange rate rose, and the pairing is currently trading at an inter-bank rate of NZ$1.9394.

With the Brexit deadline extended to the end of October, investors have refocused on the progress of the US-China trade discussions.

Markets welcomed some upbeat comments from US Treasury Secretary Steven Mnuchin over the weekend, suggesting further face-to-face talks could be happening very soon.

This likely boosted global risk appetite, however the risk-sensitive New Zealand Dollar was unable to rally against Sterling.

Commenting on the first few hours of trading on Monday, Market Analyst at CMC Markets UK, David Madden said:

‘European equity markets are subdued this morning, on the back of a strong finish on Friday. It seems like investors are taking a breather, and the lack of volatility in Asia overnight prompted some dealers to sit on their hands this morning.

‘Steven Mnuchin, US Treasury Secretary, issued a positive statement about US-China trade talks over the weekend, and he claimed the negotiations are ‘close to the final round’, and that is adding to [the] global feel good factor.’

Sterling (GBP) Muted as British Businesses Fear Brexit Downturn

Accountancy firm Deloitte said that fearing a downturn, a growing number of large British-based businesses are prioritising cash flow.

The long-term economic impact of Brexit has darkened the view of Chief Financial Officers to its worst since the survey was asked at the time of the June 2016 Brexit referendum.

81% of CFOs surveyed expect Brexit to lead to a long-term deterioration in Britian’s business environment.

Commenting on the survey, Deloitte’s Chief Executive for northwest Europe, David Sproul said:

‘Large businesses are clearly looking to protect themselves against risk by raising cash levels and bullet-proofing balance sheets.’

Further official data last month showed British business investment fell every quarter during 2018, making it the longest decline since the 2008/09 financial crisis.

Pound New Zealand Dollar Outlook: Will the GBP/NZD Exchange Rate Slip of Disappointing UK Unemployment?

Looking ahead to Tuesday, the Pound (GBP) could slip against the New Zealand Dollar (NZD) following the release of the UK unemployment rate.

If February’s unemployment rate rises from 3.9% to 4%, sentiment in Sterling could be dampened.

Late in the evening, the ‘Kiwi’ could slip against Sterling following the release of the New Zealand Consumer Price Index (CPI).

If Q1 CPI dips to 1.8% from the previous month’s 1.9%, the Pound New Zealand Dollar (GBP/NZD) exchange rate could rise.

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