NZ dollar gains vs. pound after BoE easing, traders await US payrolls

Fri, 05 Aug 2016

By Jonathan Underhill Aug. 5 (BusinessDesk) - The New Zealand dollar held its gains against the British pound after the Bank of England cut interest rates in a bigger-than-expected stimulus package, underlining the appeal of higher-yielding currencies such as the kiwi. The local dollar traded at 54.78 British pence as at 5pm in Wellington, having earlier reached a three-week high 54.87 pence, from 53.77 pence yesterday. The kiwi rose to 71.96 US cents from 71.69 cents yesterday. The Bank of England cut its bank rate to a record low 0....

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