NZ dollar drops to five-week low vs. sterling after upbeat UK employment report

Wed, 16 Apr 2014

By Tina Morrison April 17 (BusinessDesk) – The New Zealand dollar dropped to a five-week low against the British pound after UK unemployment fell more than expected and wage growth accelerated, turning investor attention to the possibility of higher interest rates. The kiwi touched a low of 51.09 British pence overnight, and was trading at 51.35 pence at 8am in Wellington from 51.34 pence at 5pm yesterday. The local currency rose to 86.27 US cents from 85.87 cents yesterday after Federal Reserve Chair Janet Yellen said US policymakers have a...

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