NZ dollar surges above RBNZ forecast on TWI basis, may prompt 'jawboning'

Thu, 16 Apr 2015

By Tina Morrison April 17 (BusinessDesk) - The New Zealand dollar trade-weighted index has soared above the Reserve Bank's projections to a nine-month high but traders and strategists say the bank has few options, other than jawboning, to drive the currency lower in the face of stand-out economic growth. The TWI touched 80.08 this morning, its highest level since July last year when it touched a record 82.03. Last month, the central bank forecast the TWI to average 76.7 in the second quarter. It was recently at 79.78. The central bank...

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