Kiwi dollar remains range bound

The New Zealand dollar remained largely range bound against the pound yesterday.

• The release of better-than-expected production data from the UK was offset by the early release of employment data showing the worst unemployment rate since 1996.
  
• The kiwi dollar continued to be underpinned by renewed investor risk appetite, which has helped commodities as well as high yielding currencies.
  
• The kiwi's direction is likely to continue to be directed by the ebb and flow of equity markets, which is still being used as a barometer for risk appetite.