Kiwi dollar strengthens against the pound

The New Zealand dollar gained over the weekend as gains in stock markets saw an improvement in appetite for riskier assets. Equity markets are still being used as the barometer for risk aversion, and optimism over a potential US stimulus package led to gains across most regional markets. The local market was closed on Friday due to a public holiday. Little domestic data is due until later in the week so the kiwi's direction is likely to follow broader market movements over the next couple of days.