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Sterling vs New Zealand Dollar has seen a huge recovery this afternoon following the Weekly Overview commentary out today by BNZ chief economist Tony Alexander. Bollard the Reserve Bank Governor said ‘despite signs of a levelling off in economic activity, the economy remains weak. We continue to expect to see a patchy recovery get underway toward the end of the year, but it will be some time before growth returns to healthy levels.’  Owing to the comments we saw the exchange rate for GBP vs NZD hit 2.52 this afternoon.