Sterling continues to sink lower vs kiwi dollar

Sterling continued to sink lower against the kiwi yesterday as investors’ risk appetite was spurred on by bullish equity markets.

• The pound fell 1.4% to a midday low of 2.3836 against the New Zealand currency on Monday as strong European stock markets enhanced demand for the higher yield currency.
  
• Sterling did recover some if losses in the evening but still closed the day below the 2.40 mark.
  
• The kiwi has continued to push higher against this morning following another improved inflation figure of 2.3%.
  
• The FTSE 100 has also had a poor start day, losing nearly 0.5% in early trading which has put further selling pressure on the pound