NZ dollar falls after RBNZ says kiwi's strength 'unjustified', stoking intervention talk

Wed, 23 Jul 2014

By Tina Morrison July 24 (BusinessDesk) - The New Zealand dollar shed almost one cent against the US dollar to a six-week low after Reserve Bank governor Graeme Wheeler said the currency's strength was "unjustified", invoking one of the central bank's criteria to intervene in the foreign exchange market. The kiwi fell as low as 86.05 US cents, from 87.02 cents immediately before the central bank's 9am statement. It was recently trading at 86.21 US cents. The trade-weighted index, fell to 80.29 from 80.97 immediately before the statement....

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