NZD/GBP threatens to push beyond 0.5730 - Westpac

NZD/GBP has held the post-UK election gains, and threatens to push beyond 0.5730, according to Imre Speizer, Research Analyst at Westpac.

Key Quotes

“Markets are watching data closely for any signs of deterioration post election. Economic events this week include a housing survey (19th), BoE Agents’ Report (21st), CBI trends (22nd). Brexit negotiations (formal start 19th?), and the post election Budget (not yet scheduled).”

“3 months ahead: Brexit negotiations, which begin in earnest on 19 June, remain a major risk for GBP. We stick with our view that NZD/GBP could rise further by year end, our current target 0.59.”