Thinking of moving to New Zealand? You can fix the New Zealand Dollar / GBP

exchange rate for 2 years before moving!

Property New Zealand has teamed up with Halo Financial to offer you the chance to FIX the exchange rate for up to 2 years before your big move or investment. No more guess work.

If you have an interest in either moving to New Zealand, or are considering in investing in property over there, you’ve probably spent the last 10 months scratching your head, checking the GBPNZ$ exchange rate, and wondering what on earth has made the GBPNZ$ rate rise from 2.4000 in January to 3.0550 in May and drop back to 2.8080 today.

At the start of the year global investors sold NZ dollars on the expectation that NZ interest rates had “topped out” while interest rates in Europe, Japan and the States were still on the rise. The “carry trade” where an investor would borrow in a low yielding currency such as the Yen and invest in a high yielding currency such as the Kiwi dollar was temporarily out of vogue.

In the last few months though, the climate has flipped over again with investors encouraged to re enter the carry trade after hawkish comments from Reserve Bank of New Zealand Governor Alan Bollard hinting NZ interest rates could still rise higher. Add to this the dovish comments from Bank of Japan officials stating interest rates in Japan were going to be very gradually raised, and the US Federal Reserve pausing the interest rate tightening cycle and the New Zealand dollar regained flight and took off.

Having traded in a range between NZ$2.90 and NZ$2.80 for a week or so, sterling is looking uncomfortable and the NZ Dollar is finding favour due to its 7.25% interest rate. A further fall in this currency pair is very likely and GBPNZ$2.74 is a target from a technical perspective. However, this view changes if there is a break above NZ$2.92.

How on earth can you make sense of GBPNZ$ fluctuations when it changes so dramatically? This year alone your life savings will have fluctuated over 27%!! How can you plan ahead if you want to move money to New Zealand in the future but want to take advantage of the NZ$ exchange rate before it drops? A good place to start and finish is to speak to a currency specialist. Halo Financial are such a company, they offer a proactive service keeping client up to date with GBPNZ$, and can help you fix your exchange rate up to 2 years before you jump on the plane. With careful planning you can realise many more NZ$’s to give you that extra-boost when setting up your new life – otherwise you will be at the mercy of the currency markets, and why should you have to gamble with your life savings when you can take control of the exchange rate? Halo Financial’s consultants have many years experience helping people like you and are more than happy to speak to you about your particular circumstances.

find out more about Fixing the NZD/GBP exchange rate for 2 years!