NZD/GBP: Trading in sideways range of 0.5600- 0.5750 - Westpac

NZD/GBP has locked itself into a sideways range of 0.5600- 0.5750 while it is expected to rise above 0.59 mark by year-end according to Imre Speizer, Research Analyst at Westpac.

Key Quotes

“UK data has been mixed: ONS data has been weak but manufacturing PMI and housing data have shown remarkable resilience. The data calendar this week is second tier until the industrial, manufacturing, construction and trade data on 10 Aug.”

“3 months ahead: Our view that NZD/GBP could rise above 0.59 by year end is dependent on uncertainty from Brexit eventually causing a slowdown in activity.”