Pound makes marginal gains vs kiwi following a decline in risk appetite

Dulled risk sentiment for higher risk currencies yesterday slowed the pound’s rate of decline against the New Zealand dollar, closing the day yesterday at 2.3768.

• Having made gains of 0.4% against the kiwi on Friday, the pound declined marginally in trading yesterday.
  
• However, the rate of decline was much diminished from last week, with the pound only losing 0.013 of a cent in yesterday’s trading.
  
• Following the RBA’s statement, the New Zealand dollar has also suffered slightly as risk appetite for higher-yielding currencies took a step back.
  
• As there is little data emerging from New Zealand’s central bank until there monetary policy statement on September 10 th, analysts have said that it will take a change in international sentiment toward risk to alter the kiwi current range.
  
• Indeed, the pound has begun gaining ground in trading so far this morning, recovering 0.12%.