The Reserve Bank of New Zealand might have embarked on a journey to higher rates, but analysts at ANZ Bank say the Bank is taking off into stormy skies.
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GBP/NZD at month highs after RBNZ lifts cash rate and profit-taking pushes NZD into losses.
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The Reserve Bank of New Zealandis tipped to raise interest rates on Wednesday, but the decision comes at an important cross roads for New Zealand's covid strategy.
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Resistance to gains is identified at 1.96, 2.0 and then 2.0283, support for weakness in GBP/NZD is identified at 1.9175 and 1.9323.
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GBP/NZD may be at risk of a slide toward May lows around 1.93 ahead of the weekend but such losses could prove short-lived if downtrends in the Australian Dollar and Euro persist.
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The Pound-New Zealand Dollar rate found support around 1.94 in the penultimate session of the week and could be set to remain above that level for a while yet, although the Kiwi’s ongoing resilienc…
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The New Zealand Dollar is poised for further advances against the British Pound.
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