NZ dollar catches breath after yesterday's slump

Mon, 29 Sep 2014

By Tina Morrison Sept. 30 (BusinessDesk) - The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month, selling the kiwi in an attempt to push its value down and benefit exporters, and Prime Minister John Key suggested a "Goldilocks" level far lower than at present. The kiwi regained some ground overnight and was trading at 77.69 cents at 8am in Wellington, from 77.45 cents at 5pm yesterday. The trade-weighted index rose to 75.80 from 7...

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