Asia-Pacific Shares Expected to Open Higher after Fed s Powell Eases Fears of Policy Shift fxempire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxempire.com Daily Mail and Mail on Sunday newspapers.
At the time of writing the pair is currently trading at around NZ$1.9181.
Pound (GBP) Supported By Better-Than-Expected GDP Growth
The Pound found itself mixed today but gaining against NZD as UK GDP data from Q4 revealed that the economy had grown 1% at the end of 2020, leading to hopes that the UK will avoid a double-dip recession.
Despite a modest growth in the fourth quarter of 2020, overall UK GDP fell 9.9% over the course of the year, the worst decline seen in 300 years.
Chancellor of the Exchequer Rishi Sunak commented on the decline in annual GDP, saying:
‘Today’s figures show that the economy has experienced a serious shock as a result of the pandemic, which has been felt by countries around the world. While there are some positive signs of the economy’s resilience over the winter, we know that the current lockdown continues to have a significant impact on many people and businesses.’