NZ dollar falls below 82 US cts after RBNZ's Wheeler says strength still 'unjustified'

Wed, 10 Sep 2014

By Tina Morrison Sept. 11 (BusinessDesk) - The New Zealand dollar dipped below 82 US cents for the first time in more than seven months after Reserve Bank governor Graeme Wheeler reiterated the local currency's strength remains "unjustified and unsustainable", invoking language signalling it could intervene to lower the kiwi. The local currency fell as low as 81.78 US cents following Wheeler's comments, and was trading at 81.95 cents at 10am in Wellington from 82.20 cents immediately before the 9am release of the statement. The trade-weig...

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