Like the lowly team assembled in Mighty Ducks, the Kiwi has improved 5 days straight. This was on the back of some positive local data and a general improvement in global risk appetite. We’re keeping an eye out to see if we can get a clear break above the 0.7500 mark, which it has flirted with a few times today. A 0.2% increase in GDP figures on Thursday helped us avoid that double dip recession that John Key mentioned a couple of weeks back. A very mundane speech by RB Governor Bollard today had no affect on the Kiwi. He must've put the little fella to sleep. Zzzzzzzzzzzzzzzz.
We had originally wanted to do a small piece on the Sterling in keeping theme with the modest wedding being planned at Buckinghams Palace however the GBP has acted similar, in many respects, to GDT watching Spice on a Sunday afternoon...stuck in the same channel all day.
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