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Weekly Currency Update GBP/NZD - Week ending 9th April

Weekly Currency Update GBP/NZD - Week ending 9th April

Old Apr 13th 2010, 12:18 am
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Default Weekly Currency Update GBP/NZD - Week ending 9th April

Hi All,

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

The NZIER Q1 Business Confidence (22% from 31%) survey showed fewer firms expect business conditions to improve in the next 6 months but remain optimistic about their own short-term outlook. The survey had no effect on official interest rate expectations that look set to remain at record lows until mid-year.

Despite a general view, supported by the IMF, that the NZD is overvalued by up to 25% the currency has been able to hold higher levels; the exception being against the AUD that has been able to surge to levels not seen since November 2000. Retail Sales will be watched this week for any indication that the recovery will be anything more than tepid.

GBP/NZD movement – High’s & Low’s of last week (5th April– 9th April)

High’s: 2.1773
Low's: 2.1427
A movement of 1.61%

Difference on £200,000

High: NZD 435,460
Low: NZD 428,540
Difference of: NZD 6,920

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
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