NZD/GBP breaking down - Westpac

NZD/GBP broke down last week, driven mostly by NZD factors, explains Imre Speizer, Research Analyst at Westpac.

Key Quotes

“Recent UK data has been firmer than expected, our data pulse model showing short term economic momentum running above average. The UK event calendar highlight is BoE’s MPC meeting (2 Nov).”

“3 months ahead: Medium term direction depends largely on whether the uncertainty from Brexit eventually causes a slowdown in activity. If not, then NZD/GBP could test 0.50."