The New Zealand dollar extended its slide from Wednesday when Reserve Bank Governor Graeme Wheeler outlined possible responses to a high kiwi and traders latched onto his use of the word intervention. The New Zealand dollar fell to 83.53 US cents from 84.08 cents at 5pm in Wellington on Wednesday. It was at 84.58 cents before Mr Wheeler\'s speech notes were released. The trade-weighted index was at 76.27 from 76.33. Mr Wheeler told the New Zealand Manufacturers\' and Exporters\' Association the kiwi dollar is significantly over-valued, and he \"will intervene when the circumstances are right\". That was enough to spark a sell-off in the currency as the word intervention got flashed across trader screens. \"Everyone latched onto certain parts of (Mr Wheeler\'s) speech regarding intervention,\" said Dan Bell, currency strategist at HiFX. \"I think the market has over-reacted. He outlines a number of measures that could be used but this was more of an academic position than a policy position.\" The kiwi may trade in a range of 83.20 US cents to 84 cents on Thursday. Mr Bell said while the minutes of the Federal Reserve\'s Open Market Committee\'s last meeting showed there were differences of opinion between voting members: \"I don\'t think that was news to many people. At the moment policy response continues to sit within the more dovish camp,\" he said. The kiwi rose to 54.80 British pence from 54.43 pence and rose to 62.82 euro cents from 62.67 cents. The local currency rose to 81.32 Australian cents from 81.14 cents and fell to 78.34 yen from 78.54 yen. 3news
GMT 12:01 2018 Tuesday ,23 January
Bahrain Bourse daily trading performanceGMT 19:16 2018 Monday ,22 January
TRA responds to hoax Dh5,000 VPN fine SMSGMT 13:09 2018 Sunday ,21 January
Bahrain Bourse daily trading performanceGMT 13:50 2018 Friday ,19 January
US SEC says bitcoin funds raise ‘investor protection issues’GMT 06:50 2018 Friday ,19 January
European stocks mostly advance on bright global outlookGMT 09:12 2018 Thursday ,18 January
European stock markets join global downtrendGMT 17:06 2018 Wednesday ,17 January
China temporarily waives taxes to get foreign firms to stayGMT 17:01 2018 Wednesday ,17 January
JPMorgan Chase earnings drop on weak trading, tax items

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor