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GBP vs NZD currency overview for 22nd February 2018Despite a lack of notable supportive New Zealand data in recent sessions, the Pound to New Zealand Dollar exchange rate has fluctuated and has so far been unable to hold above the week’s opening levels.
After a brief advance overnight, GBP/NZD dropped again on Wednesday morning. Underwhelming Australian ecostats left the New Zealand Dollar comparatively more appealing, which helped keep pressure on GBP/NZD.
GBP vs NZD trend analysis for 22nd February
As both the long term trend (green line) and the short term trend (blue line) are pointing downwards on the GBP-NZD chart, the Pound is weakening against the New Zealand Dollar.This means that you can generally buy less New Zealand Dollars for every Pound.
As the blue line is steeper than the green line, this shows that the Pound is continuing to weaken against the New Zealand Dollar, which is not good news if you want to buy New Zealand Dollars.
At time like these, when the GBP is weakening against the NZD, it can be a good opportunity to exchange New Zealand Dollars for Pounds (if you have any) as the exchange rate is more in your favour.
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.