Kiwi gains as pound tumbles on Brexit transition plans

Wed, 18 Dec 2019

The kiwi rose against the UK pound on news that UK Prime Minister Boris Johnson aims to make it illegal to extend the Brexit transition period beyond Dec 31, 2020.The kiwi was trading at 50.07 British pence at 8am in Wellington from 49.62 at 5pm yesterday. It was at 65.68 US cents from 66.00 US cents. While the UK will leave the European Union on Jan. 31 the country will remain in the single market until December 31, 2020 with an extension of the arrangement permitted for up to two years if it is both found necessary and agreed before 1 Ju...

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