WILLING TON: The Pound to New Zealand Dollar exchange rate (GBP/NZD) has showed continued minor losses on Monday’s afternoon session. Sterling has been left unsupported as traders look at the Brexit process so far, which is still dotted with unresolved issues.
Among the many problems is that state of shipping after the UK exits the EU. In the worst-case scenario, analysts have warned of continuous queues at UK ports due to enhanced customs controlled. Summing up the potential problems, James Hookham of the Freight Transport Association has said;
‘Even a small delay of two additional minutes per truck could result in tailbacks of 29 miles at the borders during peak hours. The Pound to New Zealand Dollar exchange rate (GBP/NZD) dropped by -0.3% today, following a warning about UK productivity levels.
Research from the think tank Conference Board suggests the UK will be in second place to the Eurozone this year, likely because of Brexit uncertainties. The company has estimated UK that economic growth will struggle to reach 0.8% this year, compared to 1.1% in the single currency bloc.
The UK economy keeps performing consistently below European productivity growth, even as labour markets are tightening.
