Further New Zealand Dollar Strength Expected
Modified: Thursday, 18 February 2021 14:59 GMT
Written by Gary Howes
Bank transfer rates (indicative guide): 1.8723-1.8860
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The New Zealand Dollar is being tipped to rally against the U.S. Dollar and other major currencies as foreign exchange markets react to the reality that the Reserve Bank of New Zealand might be amongst the first in the world to tighten its policy settings.
In addition, new research shows that the currency might benefit from rising commodity prices and the prospects of a relatively rapid vaccine rollout in New Zealand owing to the country s small population.
2/16/2021 8:10:54 AM GMT | By FXStreet Team
The kiwi has found its wings in recent months, rising to a two-year high on a trade-weighted basis early in January. Over the coming year, economists at Westpac expect that the New Zealand dollar will gain further altitude relative to the US dollar and other major currencies. The kiwi is also expected to remain firm relative to the Australian dollar.
Key quotes
“New Zealand will likely see a downturn in some key activity gauges due to the lack of international tourists during summer. Even so, we still expect that New Zealand will outperform others on the global stage. Against that backdrop, we see ample scope for the New Zealand dollar to push higher over the next few months and have pencilled in a peak of 0.78 against the US dollar in early 2022.”
GBP/USD eyeing a test of the 1.3900 mark. GBP/JPY poised to extend climb as the RSI surges into overbought territory. EUR/GBP faced with further losses after breaching key support. GBP/NZD looking to retest the sentiment-defining 200-MA. Advertisement
The neutral stance of the Bank of England, falling coronavirus cases and a rapid increase in the rate of local vaccinations may open the door for the British Pound to continue gaining ground against its major counterparts in the short term. Here are the key levels to watch for GBP/USD , GBP/JPY , EUR /GBP and GBP/NZD rates. GBP/USD Daily Chart Keying in on 1.3900 Mark
British Pound at key levels after higher inflation and higher daily coronavirus deaths: GBP/USD, GBP/JPY, GBP/NZD, EUR/GBP British Pound at key levels after higher inflation and higher daily coronavirus deaths: GBP/USD, GBP/JPY, GBP/NZD, EUR/GBP
Joe Perry January 20, 2021 9:01 PM
The Pound is at important levels vs several currencies, and GBP pairs need to be watched closely. Share:
Inflation data released earlier was stronger than expected, as the headline inflation rate was 0.3% vs 0.2% expected (MoM). In addition, the core inflation rate moved to 0.3% vs 0.1% expected (MoM). The result was a move higher in the GBP/USD into strong resistance near 1.3700. However, price pulled back throughout the US session, and late in the day, the UK released their daily coronavirus deaths: 1,820. This is a new d
The Pound-to-New Zealand Dollar exchange rate (GBP/NZD) has become increasingly near-term bullish and could be on course to reach an initial target at 1.9189.