NZ dollar gains vs. pound on BoE view of weak growth with inflation

Wed, 13 Feb 2013

Feb. 14 (BusinessDesk) – The New Zealand dollar rose against the British pound, touching a post-float high, after Bank of England Governor Mervyn King said economic growth is likely to remain weak even as inflation stays above the central bank’s target. The kiwi dollar rose to 54.07 British pence from 53.66 pence at 5pm in Wellington yesterday, having earlier risen to 54.14 pence. The local currency traded at 84.01 US cents from 84.10 cents yesterday. King said in the BoE’s Inflation Report that a prolonged period of above-target inflation “...

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