The New Zealand dollar gained against the British pound after a report that UK Prime Minister Theresa May will signal her intention to drive ahead with plans to exit the European Union.
The kiwi dollar rose to 59.18 British pence as at 8am in Wellington from 58.44 pence in late New York trading on Friday. The local currency traded at 71.09 US cents from 71.27 cents at the end of last week.
May is scheduled to give a speech on Tuesday which the Sunday Times reported would signal plans for a "hard Brexit", trading off membership of the tariff-free zone for the right to curb migration and forge separate trade deals with other regions and nations. PM Bill English flagged New Zealand's interest in a new trade deal with the UK after a meeting with May. The pound dropped to its lowest level in more than two decades after the Times said May will use her speech to say the UK needs to "get on and make Brexit happen", a move some say will damage the British economy.
See live rates for the NZ-US $ below. Click for more information: