Wed, 30 Jul 2014 07:53:49 GMT
Kiwi exposed to intervention
New
Zealand's overvalued currency may experience further declines after
the RBNZ warned the Kiwi's level is "unjustified". The Reserve
Bank of New Zealand lifted the official cash rate by 0.25% to 3.5% in
July, the fourth raise since January. The Kiwi reached its strongest
level since August 2011 in July this year. The New Zealand's currency,
however, fell to 85.03 U.S. cents today, the lowest in