Kiwi dollar pressed higher against the pound on Friday, and has reached last weeks record highs already this morning

The pound continued to lose ground on Friday, losing a further two cents to close at 2.3844.

• On Friday, a report showing that US employers shed fewer jobs in August than economists forecast, encouraged demand for higher-yielding assets, supporting demand for the kiwi.
  
• The kiwi was also supported by Asian stocks which continued to rally, building on Thursday’s biggest gains in six months.
  
• So far this morning, the kiwi has continued to trade higher, once again taking direction from Asian equities which, led by Chinese stocks, were broadly higher.
  
• Data today also showed that New Zealand wholesales fell 0.9% in the second quarter, the fourth consecutive quarterly fall and, which has prevented the pound from sliding too far, currently trading just 0.1% lower for the day.
  
• Additionally, the treasury said that New Zealand has emerged from recession, but warned that a high currency threatened the fragile, export led, economic recovery.