NZ dollar falls to week low against British pound after Bank of England ups growth forecasts

Wed, 12 Feb 2014

By Tina Morrison Feb. 13 (BusinessDesk) – The New Zealand dollar dropped to a week low against the British pound after the Bank of England raised its growth forecasts, increasing speculation interest rates may rise next year. The kiwi fell as low as 50.08 British pence and was trading at 50.11 pence at 8am in Wellington from 50.73 pence at 5pm yesterday. The local currency slipped to 83.15 US cents from 83.46 cents yesterday ahead of a report on US retail sales for January. The Bank of England may be the second major central bank after New Z...

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