GBP/NZD has slightly increased since the start of the Wednesday session, but the pair is still showing low volatility.

The price fluctuated within a horizontal channel since Thursday, but it broke it below yesterday and is now moving in a sideways trend.

Currently, one British pound buys 2.0101 New Zealand dollars as of 07.05 AM UTC, up 0.07% so far.

UK Parliament Backs Brexit Deal in Early Voting

GBP has been driven by the UK parliament’s decision to back a Brexit bill for the first time since the referendum took place. Still, UK Prime Minister Boris Johnson is unhappy that lawmakers rejected the tight timeline. Thus, the country’s withdrawal cannot be formally set before the current deadline of October 31. Moreover, the bill can be amended by lawmakers who want changes, as it has to pass through the House of Lords.

Yesterday, EU Council President Donald Tusk recommended EU leaders to delay Brexit until early next year.

“…in order to avoid a no-deal Brexit, I will recommend the EU27 accept the UK request for an extension,” Tusk said via Twitter.

NZ Exports Beat Expectations

The New Zealand dollar found support after the Statistics New Zealand published trade data for September a few hours ago.

Exports rose last month from NZ$4.08 billion to NZ$4.47 billion, up 9.5% and above analysts’ estimates of NZ$4.3 billion. The indicator was driven by an increase in the exports of dairy products (NZ’s largest commodity group) and meat. The exports of dairy products were up $199 million or 28% to $920 million last month, with milk powder accounting for the largest share.

Imports were flat at NZ$5.71 billion from a revised reading of NZ$5.71 billion in August, in line with analysts’ expectations. The indicator fell 2.1% compared to the same period in 2018, driven by a decline in the imports of petroleum and products.

Thus, NZ’s trade deficit came in at NZ$1.242 billion last month, after the NZ$1.565 billion deficit posted in August. This is the third monthly deficit in a row. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.