The New Zealand Dollar is under pressure amidst a selloff in U.S. technology stocks, raising the prospect of a strong recovery in GBPNZD in the coming days.
The New Zealand Dollar (NZD) is expected to face a challenging road to recovery despite recent optimism about the country’s economic outlook, according to Jane Foley, Senior FX Strategist at Rabobank.
The New Zealand Dollar fell following data that confirms the RBNZ has ample scope to cut by 50 basis points in February.
The Pound looks set to experience further weakness against the New Zealand Dollar in a week dominated by UK labour market and NZ inflation statistics.