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Converting Pounds to Kiwi Dollars, or sending money to New Zealand, has become 0.1% more expensive so far this morning. GBP NZD exchange rates have decreased so far during early morning trading.

This could be as a result of the Reserve Bank of Australia’s interest rate decision yesterday where their base rate was increased by 0.25% to 3.5%. As followers of the GBPAUD and GBPNZD currency pairs may have noticed, there is quite often a strong correlation between how the Pound performs against each.

It may also be worth bearing in mind we do have the Bank of England’s interest rate decision tomorrow where it is expected that further quantitative easing measures could be released, leading to possible Sterling weakness.