NZD/GBP to target 0.53 - Westpac

Sandeep Kanihama FXStreet Contributor

NZD/GBP’s break below a multi-month sideways range accelerated last week, after BoE officials signalled rate hikes eventually and Imre Speizer, Research Analyst at Westpac suggests that it is likely to target 0.53 multi-week.

Key Quotes

“The UK event calendar this week includes retail sales & BoE Agents’ Report (20th), Public finances (21st), CBI trends (22nd), and Brexit talks (25th).”

“3 months ahead: Medium term direction depends largely on whether the uncertainty from Brexit eventually causes a slowdown in activity. If so, NZD/GBP is likely to trade in the high 0.50s by year end. Alternatively, should the economy shrug off Brexit, then NZD/GBP could test the low 0.50s.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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