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Topping GBPNZD

by Ashraf Laidi
Jan 29, 2009 14:18

Topping GBPNZD - GBPNZD_Jan_29 (Chart 1)

Kiwi is the biggest loser after yesterday's bigger than expected 150-bp rate cut from RBNZ but upside looms against GBP. Despite the Kiwi's misfortunes, it is seen nearing an intermediate low against GBP at 2.77, after which renewed GBP weakness may drag the cross back towards 2.72.

 

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