By Rob Bastin

If you are looking to buy kiwi dollars with Sterling then rates are now 1.25% worse off than they were at the open this morning. UK GDP data showed that the UK economy contracted by 0.4% in the 3rd quarter and is therefore still in recession. Analysts had forecast a growth of 0.2% and as official figures were so much worse than this, the pound has lost ground againts all major currencies during Friday’s trading.