Weekly Currency Update GBP/NZD - Week ending 23rd July 2010
 

As promised here’s a brief update on what’s been happening with the NZ Dollar over the last week.

NZ data was extremely light last week with Visitor Arrivals and Credit Card Spending taking a back seat as global investor sentiment once again set the tone for the commodity currencies.

This week markets will focus attention on the RBNZ’s rate announcement due on Thursday where they are widely expected to raise rate by 25bp’s to 3.00%. Markets imply an 88% chance of this happening, up from 65% last week.

GBP/NZD movement – High’s & Low’s of last week 19th July – 23rd July

High’s: 2.1756
Low's: 2.0983

A movement of 3.68%

Difference on £200,000

High: NZD 435,120
Low: NZD 419,660

Difference of: NZD 15,460

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

Regards


Mark Bodega
Director - HiFX