The New Zealand dollar and Australian dollar traded in a fairly tight range over the last week due to a lack of any real significant economic data.
GBP/NZD dollar traded in the range of 2.13670-2.16950 over the last week averaging 2.15753.
GBP/AUD traded in the range of 1.64310-1.66010 with an average of 1.65383 over the same period.
The focus in the short term will be on the AUD/NZD cross rate and offshore developments.
The BoE has just announced, this morning, their decision to keep its Bank Rate unchanged at 0.5%, as widely expected, as well as to maintain its bond buying program at GBP200 Bln. This has given a small boost to both GBP vs both AUD and NZD as I write this.
For those wishing to send money back to NZ/AUS we would recommend doing it now as further uncertainty lurkes around the corner as the UK election looms closer.
Please visit out global site at www.orbitremit.com and select the site where you are to keep up to date with current exchange rates or call one of our local representatives to speak about your money transfer requirements.
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