Strong commodity prices enabled the kiwi to post gains against the pound yesterday, but the sterling price has risen again this morning

The pound lost ground to the kiwi in trading yesterday, relinquishing strong gains made on Thursday of last week, as a surge in risk appetite boosted demand for the high-yielder.

• Strong equity and commodity prices on the European and US sessions were supportive of kiwi buying, driving the price higher. Oil reached up to $80 per barrel, whilst gold rallied to another record high.
  
• The New Zealand dollar is again under pressure this morning as Asian equities failed to rack the strong run on Wall Street. The Nikkei closed down 1.0% overnight.
  
• Currently the pound is trading up 0.5% today with the price hovering just below 2.28. Though analysts have said that the price could be susceptible to a break higher as investors seek to cash profits ahead of a US holiday this Thursday.