GREAT BRITAIN POUND/ NEW ZEALAND DOLLAR TRADING
The GBP/NZD currency pair unites 2 of the world's most traded currencies. The Great Britain pound is the 4th most traded currency globally, and the New Zealand dollar is 10th. The GBP/NZD pair is commonly known as the "Kiwi" and is an example of a cross-currency pairing. It means that these 2 currencies can be traded directly without being converted into USD first. Since GBP/NZD can be prone to volatility and experience significant rate fluctuations, the pair can offer large potential for speculation.
Additionally, it can be a great alternative for experienced traders looking to diversify away from forex majors.
History of GBP NZD Trading
Great Britain pound dates back to 775 AD and evolved into its current form following decimalisation in 1971. GBP represents an important amount of daily trades around the world. The New Zealand dollar is newer and was introduced in 1967 to replace the New Zealand pound. Today, NZD has an average daily trading volume of $68B (USD).
The GBP NZD forex pair started in 2020 at 1.9647 and climbed to 2.0958 by 1 of April. The COVID-19 pandemic has triggered plenty of volatility ever since.
|GBP/NZD Forex Chart|
|Minimum Nominal Trade Size: 1000|
|Overnight Interest (daily) Sell: -5.89%|
|Overnight Interest (daily) Buy: -2.09%|
|Trading Hours (GMT): 24/5|
|MT5 / MT4 Symbol: GBP/NZD|
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