Pound to New Zealand Dollar News, Forecast: GBP Strikes Two-Week High

GBP/NZD rose to a two-week high as deteriorating global risk appetite hit the risk-sensitive New Zealand dollar. The pair traded around 2.3044, about 0.3% higher on the day, with the kiwi pressured by concerns over stalled US-Iran ceasefire talks, higher oil prices near US$90 a barrel, and a rotation into safe-haven assets. Sterling gained against NZD even though it was broadly flat versus other majors, reflecting the lack of fresh UK data. Looking ahead, UK Q2 GDP, expected at 0.4% q/q versus 0.6% in Q1, is the key catalyst for GBP. A solid print could reinforce Bank of England tightening expectations and extend GBP/NZD gains. On the NZD side, stronger New Zealand business inflation expectations could lift RBNZ rate-hike bets and help the kiwi recover.