New Zealand dollar recovers losses

The New Zealand dollar regained previous losses against sterling yesterday, as month-end and quarter-end flows improved demand for risk appetite, supporting the kiwi. Previous falls were seen after the Reserve Bank of New Zealand said interest rates had got out of line with expectations, and that it expects to keep rates low for some time. The National Bank of New Zealand business confidence survey yesterday showed sentiment in March still remain low with no signs of near term improvement.