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GBP vs NZD currency overview for 27th March 2018The Pound to New Zealand Dollar exchange rate actually weakened on Tuesday, as the New Zealand Dollar failed to break below key support levels and instead rebounded from recent lows.
New Zealand Dollar trade was supported by briefly stronger risk-sentiment too, although trade war concerns helped GBP/NZD to advance again on Wednesday morning.
This week’s New Zealand data has all been published, meaning NZD investors are likely to await next week’s data or trade based on risk-sentiment and US trade developments.
GBP vs NZD trend analysis for 22nd April
Both the long term (green line) and recent trends (blue line) show that GBP-NZD is trending upwards.
As the Pound is generally strengthening against the NZD, this means that you should receive more Pounds for every New Zealand Dollar.
However, as the recent trend is now weaker than the long term trend, the exchange rates between the GBP and the NZD may be softening. Now may be a good time to buy New Zealand Dollars, depending on the exchange rates that you can achieve, but this weakening trend may indicate that exchange rates are starting to fall.
The overview update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/NZD exchange rates
This article is for information and educational purposes only and does not form a recommendation to invest or otherwise. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.