February 24, 2021 - Written by Ben Hughes
The Pound continues to rally today, but the British Pound to New Zealand Dollar (GBP/NZD) exchange rate is still struggling to gain too far past the week’s opening levels. This is because the New Zealand Dollar still remains broadly appealing itself, and the latest Reserve Bank of New Zealand (RBNZ) policy decision only further bolstered market appetite for the relatively risky ‘Kiwi’.
Last week’s GBP/NZD movement was highly volatile. After opening last week at the level of 1.9163, GBP/NZD spent most of the week trending with an upside bias and towards the end of the week GBP/NZD touched on a high of 1.9400. This was the best level for GBP/NZD in three months, since November.