NZ dollar jumps vs. British pound after Bank of England package surprises investors

Thu, 04 Aug 2016

By Paul McBeth Aug. 5 (BusinessDesk) - The New Zealand dollar jumped to its highest in more than two weeks against the British pound after the Bank of England cut interest rates and delivered a bigger stimulus package than the market expected. The kiwi rose as high as 54.87 pence, trading at 54.69 pence at 8am in Wellington from 53.77 pence yesterday. It edged up to 71.78 US cents from 71.69 cents yesterday. The Bank of England cut the bank rate a quarter point to a new record low 0.25 percent and said it would buy up to 10 billion p...

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