The rising odds of an interest rate cut in November could weaken the New Zealand Dollar further.
The New Zealand Dollar extended a soft run after a new business survey showed a continued deterioration in economic sentiment and raised the odds of an interest rate cut at the Reserve Bank of New Zealand in H2.
The Pound to New Zealand Dollar exchange rate is forecasted to extend a recent rally towards 2.0832 in the coming days. Friday's U.S. jobs report is the week's focus for NZD, while Thursday's UK election is the focus for GBP.
The New Zealand Dollar is approaching a turning point and will reverse recent gains say analysts who think the Reserve Bank of New Zealand (RBNZ) will cut interest rates aggressively.