NZ dollar gains vs. British pound as UK PM Theresa May outlines Brexit timeline

Mon, 03 Oct 2016

By Paul McBeth Oct. 4 (BusinessDesk) - The New Zealand dollar gained against the British pound as UK Prime Minister Theresa May's announcement of a timeline to quit the European Union triggered a sell-off in the sterling with traders spooked by the prospect of Britain leaving the single market. The kiwi rose to 56.52 British pence at 8am in Wellington from 56.10 pence yesterday. The trade-weighted index was little changed at 77.18 from 77.14 yesterday. The British pound dropped 0.9 percent against the greenback as traders digested Ma...

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