The GBP to NZD currency pair is one of the most popular trades, due to their close economic and trading links. The rate of exchange between the two currencies fluctuates on a daily basis, depending upon fluctuations in supply, demand and other factors.
Some of the main drivers affecting this currency pair include interest rates, inflation levels, political events and commodity prices. Interest rates are very important since they affect the cost of borrowing in both currencies and can therefore have a big impact on exchange rates. Inflation levels also play an important role, as higher inflation in either country can lead to a lower value for that currency relative to others.
The GBPNZD currency pair has a long history of fluctuating prices. Over the past 10 years, the highest price was recorded in September 2015 at 2.441 and the lowest price was recorded in October 2016 at 1.71. In recent months, the currency pair has been trending upwards with the current price hovering around 2.0400. Investors and traders should pay close attention to this currency pair as it could offer plenty of trading opportunities in the near future.
It is also important to pay attention to any news or events related to the UK and New Zealand economies, as any changes in the political climate or economic environment can have a direct effect on currency prices. For example, if an announcement is made about a new policy initiative or technological advancement in either country, investors may take this as an indication of improved currency strength and invest accordingly.
The GBPNZD currency pair is an attractive option for traders because it combines two of the world’s most dominant currencies and provides a wide range of trading opportunities. The British pound, known as sterling, and the New Zealand Dollar are both major global currencies with high liquidity and low transaction costs.
In addition to GBPNZD, traders should consider trading other currency pairs such as EURGBP and GBPJPY. Both of these pairs offer exposure to two of the most widely traded currencies in the world: the Eurozone Euro and the Japanese Yen. EURGBP offers traders exposure to both European and British markets while GBPJPY trades on the movements between the sterling and the Japanese Yen.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.