BRL/GBP Price & Performance (BRLGBP)

The GBP/NZD exchange rate held steady at NZ$2.2465 following the Bank of England's decision to maintain interest rates. The Pound gained earlier due to hawkish guidance but faces potential volatility with upcoming UK PMI, CPI, and GDP data. Meanwhile, weak consumer confidence may weigh on the New Zealand Dollar.1

The GBP/CAD exchange rate saw fluctuations last week, with the Pound benefiting from the Bank of England’s hawkish stance. The Canadian Dollar, tied to oil prices, faced headwinds from declining retail sales. This week, the UK’s economic indicators and Canada’s GDP data are expected to drive currency movements.2

UK PMI data revealed a contraction in manufacturing, contrasting with stronger EU manufacturing figures. While UK services PMI rose, concerns linger over the economy’s trajectory ahead of the Spring Budget. Sterling remained resilient, edging higher against the Euro, as markets await further fiscal and inflation updates.3