NZ dollar gains vs. British pound after sterling 'flash crash'

Sun, 09 Oct 2016

By Paul McBeth Oct. 10 (BusinessDesk) - The New Zealand dollar gained against the British pound as investors continue to weigh up the impact of the UK's exit from the European Union, triggering a brief slump in sterling on Friday. The kiwi rose to 57.78 British pence at 8:30am in Wellington from 57.56 pence, rising as high as 57.87 pence when the pound sank to a 31-year low in light trading last week. The local trade-weighted index advanced to 76.75 from 76.32 last week. The British pound dropped 600 basis points on Friday for no app...

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