Sterling strengthens vs. kiwi on FTSE gains

The pound strengthened against the kiwi on Friday, despite investors being drawn to the South Pacific nation’s assets because of its 2.5% interest rate.

• The kiwi weakened against sterling on Friday as a 1.52% rise on the FTSE 100 buoyed hope that the UK economy was close to a recovery. Poor data earlier in the week had hit the pound.
  
• There are no major announcements due in the UK or New Zealand today so traders are likely to take their direction from broader market movements.