NZD/GBP: Decline targeting 0.5250 - Westpac

Imre Speizer, Research Analyst at Westpac, suggests that NZD/GBP’s decline persists, targeting 0.5250 next as UK economic data remain upbeat overall, although one wonders when the realities of Brexit will start to bite.

Key Quotes

“Data this week includes housing surveys (8th, 11th and 15th) and industrial production (11th). The highlights should be the BoE MPC and quarterly Inflation Report (both on 11th).”

“3 months ahead: The June 8th general election and Brexit negotiations will occupy market minds. We stick with our view that NZD/GBP could rebound by year end, although closer to 0.56 than 0.60.”