Kiwi dollar strength still 'unjustified and unsustainable', RBNZ's Wheeler says

Wed, 10 Sep 2014

By Paul McBeth Sept. 11 (BusinessDesk) - The New Zealand's dollar persistent strength is still "unjustified and unsustainable" after a slump in commodity prices this year, though it should come down as the US Federal Reserve moves away from running a zero interest rate policy, according to Reserve Bank governor Graeme Wheeler. Wheeler kept up his heightened rhetoric in trying to jawbone the kiwi, having spooked markets in July when he called its strength "unjustified", an explicit requirement in the central bank's policy to intervene in f...

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