Sterling finishes slightly up against the Kiwi

Sterling made modest gains against the New Zealand dollar yesterday, as the pound gained from broader market movements.

• Global equity markets rose yesterday as investors speculated that the worst of the recession may be behind us, and that a bull market may be returning.
  
• The pounds gains were limited however as commodity prices continued to firm – commodities account for 70% of New Zealand’s exports.
  
• The Kiwi may come under selling pressure in the medium term as investors speculate that last month's gains may have come too quick.