Kiwi falls as RBNZ's Wheeler pledges intervention 'when circumstances are right'

Wed, 20 Feb 2013

By Paul McBeth Feb. 20 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has told manufacturers he will intervene in currency markets if the circumstances will let him smooth the peaks and troughs, though he can't set the level of the currency. The kiwi dropped half a US cent after the speech's release. In a speech entitled, 'manufacturing decline not just a dollar story', Wheeler told the New Zealand Manufacturers' and Exporters' Association the kiwi dollar is significantly over-valued, and he "will intervene when the circumstances are...

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