Despite an easing of concern over the UK's debt, the pound remains under broad pressure, with the sterling/kiwi price below 2.24

The pound capped sharp losses incurred against the kiwi, clawing back over 2.24 on Friday in the wake of encouraging news from Moody's rating agency.

• The kiwi was softer on Friday, consolidating strong gains after the Reserve Bank of New Zealand shifted their policy to earlier rate rises.
  
• The pound was able to make slight gains, reversing early losses, after Moody's rating agency announced that it had no intention of cutting the UK's triple A rating.
  
• However, the pound has moved lower this morning, unable to consolidate its position as concerns linger over the UK's fiscal position.