Kiwi drops as RBNZ announces it is overvalued

Source: WBP Online
The New Zealand Dollar depreciated 0.56% against the U.S. Dollar, thus extending its loosing streak to third day and reaching the weakest level in two-months. The so called Kiwi dropped after the Reserve Bank of New Zealand economist McDermott's mentioned that the Kiwi is overvalued and the high exchange rate has contributed to the economic imbalance. 
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