Wannaway
26th February 2005, 12:13 PM
Spoke with HIFX here in Auckland yesterday about the GBP/NZ$ exchange rate.
View seems to be that although been kicking around the 2.60/2.65 mark last few weeks, the NZ$ has probably "topped out" against sterling. With all the talk of possible interest rate rises in the UK as early as May of this year, dealer's view is that sterling is more likely to improve against the NZ$ rather than go down, in his words "sterling is beginning to look a little undervalued". :nice1
I tried pressing on what could be the likely range sterling could go to (eg 2.70, 2.80 the magical 3?) but he was to sharp for that - he would not give me much of a steer when it came to actual numbers. Basically he was saying that we if we are in no rush to exchange we should hang on for a while yet. General election in the UK is unlikely to change things much, unless the Monster Raving Looney Party get in!
View seems to be that although been kicking around the 2.60/2.65 mark last few weeks, the NZ$ has probably "topped out" against sterling. With all the talk of possible interest rate rises in the UK as early as May of this year, dealer's view is that sterling is more likely to improve against the NZ$ rather than go down, in his words "sterling is beginning to look a little undervalued". :nice1
I tried pressing on what could be the likely range sterling could go to (eg 2.70, 2.80 the magical 3?) but he was to sharp for that - he would not give me much of a steer when it came to actual numbers. Basically he was saying that we if we are in no rush to exchange we should hang on for a while yet. General election in the UK is unlikely to change things much, unless the Monster Raving Looney Party get in!