NZ dollar falls vs. pound as UK emerges from recession, holds gains vs. greenback

Thu, 25 Oct 2012

Oct. 26 (BusinessDesk) - The New Zealand dollar fell against the pound after government figures showed Britain emerged from recession last quarter, helped by the Olympic Games. The kiwi held above 82 US cents. The New Zealand dollar traded at 82.16 US cents from 82.21 cents at 5pm in Wellington yesterday. The kiwi fell to 50.95 British pence from 51.23 pence. The Olympics helped the UK economy expand by 1 per cent in the latest quarter, the fastest growth rate since the third quarter of 2007, surprising economists who had expected recession...

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