NZ dollar drops to 4-year low vs. British pound after upbeat retail data

Thu, 21 May 2015

By Tina Morrison May 22 (BusinessDesk) - The New Zealand dollar fell to a four-year low against the British pound after UK retail sales rose more-than-expected in April, boosting optimism about the outlook for the economy. The kiwi touched 46.52 British pence, and was trading at 46.78 pence at 8am in Wellington, from 47.14 cents at 5pm yesterday. The local currency was little changed at 73.28 US cents from 73.34 cents yesterday. The pound strengthened after a report showed British retail sales volumes rose 1.2 percent in April from Mar...

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