- Ratings agency Fitch downgraded its outlook for New Zealand from stable to negative yesterday, reducing investor appetite for the kiwi dollar. Its fall came despite the agency reaffirming the country’s AA+ sovereign credit rating.
- Strong equity market performance also buoyed investor appetite for the pound, with the FTSE 100 eventually finishing the day up 15.38.
- So far today, the kiwi has strengthened against sterling despite news of two explosions in Jakarta overnight generally reducing risk appetite in the market.
Friday, 17 July 2009
Sterling up after Fitch NZ downgrade
The pound rose against the kiwi dollar yesterday after a ratings agency raised concern over New Zealand’s finances.
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