NZD/GBP: Potential to reach 0.5475 - Westpac

The NZD/GBP cross remains in a downward correction, with potential to reach 0.5475 this week, according to Imre Speizer, Research Analyst at Westpac.

Key Quotes

“Economic data is mixed, giving rise to debate within the BoE. Near record employment and rising CPI inflation have not yet helped wage growth. June inflation data (18th) and housing surveys are thus key releases this week, as well as June retail sales (20th).”

“3 months ahead: Brexit negotiations, which began in June, remain a major risk for GBP. We stick with our view that NZD/GBP could rise further by year end, our current target 0.59.”