Sterling loses 2.6% vs kiwi in a week

Sterling fell for a sixth consecutive day against the kiwi yesterday, having now lost nearly 2.6% of its value since early last week.

• The New Zealand dollar stayed strong overnight after volatile Chinese stocks moved higher.
  
• The higher-yielding and commodity-linked currencies, such as the kiwi, have gained ground with Shanghai shares recently, with many eyes on China playing a central role in helping to pull the global economy out of recession.
  
• In trading so far this morning, the pound has already dipped over a cent and half, but analysts say that high-yielding currencies will need further strong data supporting expectations of economic recovery in order to push higher.
  
• New Zealand’s Trade Balance figure for July will be released today at 23:45BST, with forecasters predicting a much improved figure from June.