NZ dollar climbs above 55 British pence as fears grow over Brexit

Wed, 06 Jul 2016

By Paul McBeth July 7 (BusinessDesk) - The New Zealand dollar climbed above 55 British pence as more UK commercial property funds suspended redemptions in the wake of last month's vote to leave the European Union, stoking fears Britain could tip into recession. The kiwi touched 55.32 pence, the highest level since April 2013, and was trading at 55.10 pence at 8am in Wellington from 54.78 pence yesterday. The trade-weighted index declined to 76.27 from 76.54. The pound slumped to a new 31-year low against the greenback when three more...

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