The Pound Sterling to New Zealand Dollar (GBP/NZD) conversion rate has risen by a small amount today, although in a majority of its pairings the UK currency has been soft overall.
GBP/NZD Exchange Rate News: BoE Uncertainties Fuel Existing ‘Brexit’ Fears
The UK has been unsettled recently by headline-grabbing news regarding the possible consequences of the UK referendum resulting in an ‘Out’ vote. Today has been no exception, with the Bank of England’s (BoE) recent statement from the Financial Policy Committee serving to fan the flames, as such.
This has principally been embodied in the statement that a ‘Brexit’ represents ‘the most significant near-term domestic risk(s) to financial stability’. On the other side, however, the central bank has also remarked that the UK banking sector is likely to be strong enough to weather a potential ‘Brexit’-induced credit crunch, certainly better than in late 2008’s calamitous developments.
The Pound has made a fractional gain against the New Zealand Dollar (GBP/NZD) today, with greater gains of 0.2% against the Swiss Franc (GBP/CHF), 0.4% against the Hungarian Forint (GBP/HUF) and 0.6% against the Norwegian Krone (GBP/NOK) also being recorded.
New Zealand Dollar (NZD) Soft Today Owing to Chinese Uncertainty and Poor Milk Prices
The appeal of the ‘Kiwi’ has diminished today, mainly due to a lack of domestic data compounding the recent dip in the price of milk to $13.77. The antipodean currency has also been let down by an apparent cooling of China’s economy, which has been part of longstanding concerns floating around the Asian superpower’s future role in trade relations with Australia and New Zealand.
Today, the ‘Kiwi’ has slipped slightly against the Pound Sterling (NZD/GBP) but has made a small gain against the Chinese Yuan (NZD/CNY) and a greater 0.4% advance against the Australian Dollar (NZD/AUD).
GBP/NZD Exchange Rate Forecast: Chinese Consumer Survey may Provide Biggest Short-Term Shift
The near-future is not expected to be graced by high-impact data from the UK or New Zealand, therefore it may be up to a data release from further afield to generate notable movement in the pairing.
This will come from China tomorrow morning, in the form of the Westpac-MNI consumer sentiment score for March. Previously, a figure of 111.3 was recorded.
Current GBP, NZD Exchange Rates
The Pound Sterling to New Zealand Dollar (GBP/NZD) exchange rate was trending in the region of 2.1171 and the New Zealand Dollar to Pound Sterling (NZD/GBP) exchange rate was trending in the region of 0.4726 today.
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