If you’re transferring money between the UK and New Zealand, here’s a quick look at what’s happening with the British pound (GBP) and the New Zealand dollar (NZD), and what it might mean for your money in December 2025.
GBP to NZD: Where It Stands
GBP to NZD is trading around the mid 2.31s to 2.32s and has recently been drifting lower.
The New Zealand dollar has been firmer thanks to stronger economic data and fewer expectations of interest rate cuts in New Zealand.
Meanwhile, the pound has been under pressure due to weaker UK data and rising expectations that the Bank of England may cut interest rates soon.
What’s Driving GBP to NZD?
Understanding the key forces behind the moves.
New Zealand strength: Recent NZ data has been better than expected, including strong business confidence, manufacturing activity, and retail sales. The Reserve Bank of New Zealand is signalling that its cycle of cutting interest rates may be over. This supports a stronger NZ dollar.
UK weakness: UK inflation is expected to keep falling, and markets now think the Bank of England could cut rates sooner. Weak labour data, concerns about upcoming fiscal plans, and political uncertainty are also weighing on the pound.
Global risk appetite: The NZ dollar tends to perform well when global markets are calm and investors are willing to take risk. If this continues, NZD may stay supported.
What Do the Charts Say?
Charts show GBP to NZD struggling to rise above 2.33 to 2.34, which is acting as strong resistance. Support sits around 2.31 and then more importantly near 2.2990.
The pair has broken below key moving averages, suggesting the downward trend may continue.
Any short term bounce is likely to struggle unless the pound gets a positive surprise from upcoming UK data or the government budget.
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What to Watch in December 2025
The biggest events likely to move the pair.
UK inflation data. If inflation drops faster than expected, the pound could fall further.
UK budget announcements. Any signs of higher taxes or reduced government credibility may weaken GBP.
RBNZ commentary. If the RBNZ continues to talk tough on inflation, the NZ dollar could strengthen further.
Global market mood. If global markets turn risk off, NZD could weaken. If markets stay stable or upbeat, NZD may stay strong.
Risks Ahead
Potential surprises to be aware of.
A shock drop in UK GDP or inflation would likely push GBP to NZD lower.
A sudden shift in global sentiment, perhaps due to geopolitical tensions, would likely hurt the NZ dollar more.
If UK political uncertainty improves or the budget is better received, the pound could stabilise.
What This Means If You’re Sending GBP to NZD Abroad
The current trend points toward a slightly weaker pound against the New Zealand dollar over the next month. This means your pounds may buy fewer New Zealand dollars if you wait. If you need to send money soon, consider acting earlier or using a service that allows you to lock in rates. If you are hoping for a better rate, keep an eye on UK economic announcements and the government budget, which are the main opportunities for the pound to strengthen.
In short
GBP to NZD is biased lower for now. Strong NZ data and expectations of a stable RBNZ, combined with weaker UK fundamentals, keep pressure on the pound. Support levels to watch are 2.31 and 2.2990, with resistance around 2.33 to 2.34. The balance of risks currently favours NZD strength unless the UK delivers positive surprises.
