Kiwi gains on business survey

The kiwi rose against the pound yesterday after a report showed growing optimism amongst New Zealand’s business community.

• A report released by ANZ National Bank Ltd. spurred the kiwi’s gains yesterday, after it revealed New Zealand businesses became more optimistic in June. A net 8.3% of companies surveyed said they expected sales and profit to increase over the next 12 months, compared with 5.5% last month.
  
• However, strong London equities capped the kiwi’s gains to some extent, although it still finished comfortably up after enduring losses at the end of last week.
  
• Important UK revised GDP and Current Account data is out at 09.30 BST today.