NZ central bank says intervened in currency market; kiwi tumbles

Wed, 08 May 2013

By Paul McBeth May 8 (BusinessDesk) - The Reserve Bank of New Zealand says it intervened in foreign exchange markets in an attempt to drive the kiwi lower. It gave no details of the size of the intervention. The kiwi dollar tumbled to 83.90 US cents from 84.48 cents before his comments were telegraphed at the finance and expenditure select committee in Wellington. The trade-weighted index dropped to 77.71 from 78.17. The comments come after governor Graeme Wheeler said in a briefing for the six-monthly Financial Stability Report today that...

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