NZ dollar falls after RBNZ’s Wheeler keeps markets guessing on FX intervention

Thu, 30 May 2013

By Paul McBeth May 30 (BusinessDesk) - The New Zealand dollar fell after Reserve Bank governor Graeme Wheeler said he’s prepared to keep intervening in foreign exchange markets to keep a lid on the local currency. The kiwi fell to 81.15 US cents at 5pm in Wellington from 81.31 cents at 8am, just before the release of Wheeler’s speech, though up from 80.68 cents yesterday. The trade-weighted index slipped to 76.41 from 76.57 yesterday. The RBNZ’s Wheeler told the Institute of Directors he is “prepared to scale up our foreign exchange activ...

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