NZ dollar pops above 50 British pence as investors downgrade UK outlook

Thu, 13 Nov 2014

By Tina Morrison Nov. 14 (BusinessDesk) - The New Zealand dollar popped above 50 British pence, touching its highest level in almost two months, as weaker UK housing data added to concerns about the outlook for the country's economy and dented the prospect of higher interest rates.. The kiwi reached 50.31 British pence, its highest level since Sept. 17, and was trading at 50.19 pence at 8am in Wellington, from 49.86 pence at 5pm yesterday. The local currency advanced to 78.84 US cents from 78.66 cents yesterday. Investors have dumped t...

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