Hi, I need to bring a large sum of money over from NZ to buy a property here in the coming week. Interest rates are not very favourable today - would you recommend doing it ASAP or holding off til mid- next week?

Should I bring a large sum of money over from NZ to buy a property here ASAP or wait til mid- next week? Or is it expected to keep getting worse?

Hi Lucy -

Thanks for your question.

The Kiwi Dollar has endured a horrible week in the markets which has seen GBP NZD track up to 2.1500. Today’s session has however brought a slight improvement. Fears persist that the Reserve Bank of New Zealand will be cutting interest rates again before the end of the year – a move which would set it apart from other major global central banks.

For this reason, I would think seriously about taking advantage of this short term downward blip for GBP NZD because the forecast moving forward is relatively negative for Kiwi-sellers.

Regards,

John Cameron
currencynews.co.uk
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