We see risks in the Australian dollar tilted to the downside as we see rising risks to global growth and equity market performance later this year and into 2024. China is unlikely to provide meaningful support for global growth, and Australia. We continue to see medium-term risks due to the recent slowdown in growth data and the krone’s high beta to equity market risk during this highly uncertain macro environment. The krone is historically cheap relative in our estimates of fair value and is supported by steady potential growth. The yen is likely to struggle in the near term, given its negative short-term interest rates. But we see risks skewed toward a yen recovery later this year and through 2024.
Growth data continues to soften, inflation is rolling over, and, aside from the yen, the franc has the lowest yields in the G10. We confidently believe that the next big, sustained move in the dollar is lower – a broad decline of 10%–15% – but it appears early for that now. It is hard to argue against a defensive currency with high yields and strong growth in a world fraught with macro fragilities. We expect relative US growth and yields to converge lower with the rest of the world over the course of 2024 and that process may begin over the next few months.
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Assets may be considered “safe havens” based on investor perception that an asset’s value will hold steady or climb even as the value of other investments drops during times of economic stress. Perceived safe-haven assets are not guaranteed to maintain value at any time. The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security.
NZD to GBP – Convert New Zealand Dollars to British Pounds
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block. Live tracking and notifications + flexible delivery and payment options. All information is from SSGA unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such. Our long-run valuation model suggests that the pound is cheap. However, low productivity growth and high inflation are pushing fair value lower, which is on pace to trend down to the lower 1.30s against the US dollar over the next few years.
This divergence highlights the potential for sector-specific trading strategies, as different industries can react differently to the same macroeconomic indicators. In Japan, bank shares experienced noticeable gains with the prospect of higher interest rates. The Nikkei 500 banking index rose by over 3%, while the broader Nikkei 225 index fell by approximately 0.5%. Prior to today’s ECB meeting, there was a bit of uncertainty whether the ECB would hike or not, with markets pricing in a 65% implied probability of a 25-bps hike.
The information provided on the Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. We maintain our neutral to slightly negative view on the euro in response to the steady stream of weaker economic data surprises and rising stagflation risk. Any return of pessimism and equity volatility over the next few months would likely support the euro vs. higher-beta currencies as we saw in August, but a broad euro upside appears unlikely in the near future. Check live rates, send money securely, set rate alerts, receive notifications and more. You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. The products and services described on this web site are intended to be made available only to persons in the United States, and the information on this web site is only for such persons.
Central Bank Rates
But on the hand, the British Pound is one of the premier reserve currencies and represents the world’s largest financial center. China’s credit data exceeded expectations, leading to a dip in the USD/CNH (US Dollar/Chinese Yuan) after the fix. New Yuan loans were CNY 1.36 billion in August, above forecasts of CNY 1.25 billion.
USDCAD in an aggressive decline from its 5-month high of 1.3693Bears eye the crucial 200-day SMAMomentum indicators suggest more pain in the short termUSDCAD had staged a massive… Hong Kong’s morning trading session will be delayed due to the issuance of a Black Rainstorm Warning alert issued by the government. Tencent-backed Tuhu Car plans to raise up to 1.26 billion Hong Kong dollars ($160.89 million) through an initial public offering in Hong Kong. SoftBank Group shares rose Friday morning in Tokyo after chip designer Arm surged in its Nasdaq debut overnight, raising hopes for a recovery in the IPO market. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs.
In other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. The British Pound vs. the New Zealand Dollar cross is one of https://1investing.in/ the most volatile one among GBP pairs. The New Zealand Dollar is often viewed as a proxy for Chinese growth and thus have performed well against the Euro in recent years.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion. All investment services are provided by the respective Wise Assets entity in your location. All persons and entities accessing the Site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. The Site is not directed to any person in any jurisdiction where the publication or availability of the Site is prohibited, by reason of that person’s nationality, residence or otherwise. Eventually, likely in 2024, Swedish and global inflation will be under control and the economy will begin a more durable recovery. Once that happens, the historically cheap krona has substantial room to appreciate back toward its long-run fair value on a sustained basis.
Our models are neutral on the Canadian dollar, with improved oil prices offsetting modest softening in economic data and sluggish relative Canadian equity market performance. Our view of the British pound is increasingly negative in response to the decelerating economic data, persistently high inflation, and poor UK equity market performance. We expect the Bank of England (BoE) to raise rates again at its September meeting and probably at least one more time by year-end . But that may provide little support for the pound as tighter monetary policy further damages an economy already teetering close to recession. In the near term, currency market performance is likely to look similar to that in August, with more cyclically sensitive currencies underperforming. The British pound looks increasingly vulnerable as economic data surprises turn negative, and, while we expect the Norwegian krone to have difficulty in the face of higher equity volatility, it looks increasingly oversold relative to strong oil prices.
Past performance is not a reliable indicator of future performance. Investing involves risk including the risk of loss of principal. All material has been obtained from sources believed to be reliable. This news could be a positive signal for traders, as a healthier credit environment in China can potentially lead to increased economic activity and investment opportunities.
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GBP/NZD Exchange Rate Performance Past 52 Weeks:
We shift from neutral to slightly positive on the krone as it appears oversold relative to the recent strength in oil prices, late August recovery in equity markets, and hopes of further monetary tightening. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers.
Despite our longer-term bear market thesis, it is hard to argue against the US dollar at the moment. It is both a defensive and high-yielding currency, while the US economy is holding up better than most – a very attractive trio of factors for the dollar against the backdrop of a fragile world. This is especially true, heading into September, which typically brings higher level of equity market volatility. The high-growth, high-yield, safe-haven USD was the big winner in August, while the risk-sensitive NOK led the downside despite stronger oil prices. Tactically, we shift from neutral to slightly positive on the NOK as it appears oversold relative to the recent strength in oil prices.
Looking ahead, the highlight this week will be the US Consumer Price Index (CPI) data release on Wednesday. This key economic indicator can significantly influence the Federal Reserve’s monetary policy, and thus impact the USD and other correlated assets. This communication is directed at professional clients (this includes eligible counterparties as defined by the “appropriate EU regulator”) who are deemed both knowledgeable and experienced in matters relating to investments.
Such statements are subject to a number of assumptions, risks, uncertainties, many of which are beyond SSGA’s control. Please note that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. We expect another policy rate increase from the Swiss National Bank (SNB) in September, but think that will be accompanied by more neutral comments and a reduction in the SNB’s propensity to intervene in support of the franc. Such a dovish shift should encourage the highly overvalued franc to correct lower, though the rising risk of EU stagflation and the fragile global macro may delay the expected sell-off. The news and information contained on this site is by no means investment advice. These are the average exchange rates of these two currencies for the last 30 and 90 days.
New Zealand Dollar to
Our currency rankings show that the most popular New Zealand Dollar exchange rate is the NZD to USD rate. These percentages show how much the exchange rate has fluctuated over the last 30 and 90-day periods. These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. These are the highest points the exchange rate has been at in the last 30 and 90-day periods.
Beware of bad exchange rates.Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. Our smart tech means we’re more efficient – which means you get a great rate. Nothing contained in or on the Site should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. SSGA Intermediary Business offers a number of products and services designed specifically for various categories of investors.
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The yen is very cheap, and we expect global yields to turn lower, along with a period of severely below-trend global growth as we head into next year. This supports yen strength via improved yield differentials and safe-haven demand. The timing of these factors requires patience and tolerance sensitivity analysis meaning for additional yen weakness. Nevertheless, we believe it makes sense to build a long-yen bias now, particularly as any further material weakness incentivizes another round of government intervention to support the yen. Banks and other transfer services have a dirty little secret.
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- This communication is directed at professional clients (this includes eligible counterparties as defined by the “appropriate EU regulator”) who are deemed both knowledgeable and experienced in matters relating to investments.
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- Eventually, likely in 2024, Swedish and global inflation will be under control and the economy will begin a more durable recovery.
- We continue to see medium-term risks due to the recent slowdown in growth data and the krone’s high beta to equity market risk during this highly uncertain macro environment.
The products and services to which this communication relates are only available to such persons and persons of any other description (including retail clients) should not rely on this communication. Currency Risk is a form of risk that arises from the change in price of one currency against another. Whenever investors or companies have assets or business operations across national borders, they face currency risk if their positions are not hedged. We are negative on the franc over both the tactical and strategic horizons. It is the most expensive G10 currency per our estimates of long-run fair value.