NZ dollar drops to 17-month low vs. British pound after BOE pulls back on lending scheme

Thu, 28 Nov 2013

By Tina Morrison Nov. 29 (BusinessDesk) – The New Zealand dollar fell to the lowest in more than 17 months against the British pound after the Bank of England bet the UK housing market was strong enough to withdraw support for a lending scheme. The kiwi dropped as low as 49.53 British pence in local trading early this morning, the lowest level since June last year. The local currency was trading at 49.74 pence at 8am in Wellington, from 50.07 pence at the 5pm market close yesterday. The New Zealand dollar slipped to 81.29 US cents from 81.65...

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