NZ dollar's sharp decline raises speculation of Reserve Bank intervention

Sun, 24 Aug 2014

By Tina Morrison Aug. 25 (BusinessDesk) - The New Zealand dollar dropped sharply in mid morning trade on Monday, shedding half a US cent in about five minutes and prompting speculation of Reserve Bank intervention. The kiwi fell, from 9:15am when it was trading at 83.96 US cents, to 83.40 US cents at 9:21am. The local currency subsequently touched a six-month low of 83.36 US cents and was recently trading at 83.44 cents. New Zealand's Reserve Bank has previously said the local currency is too high and raised the possibility it could in...

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