Kiwi Bears Capitulate as Wheeler Surrenders to Flows: Currencies
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New Zealand’s dollar is crushing bears as strategists boost their forecasts and the nation’s new central-bank chief says there’s little he can do to stem the gains.
The so-called kiwi has appreciated 3.9 percent in 2012, the most among 10 developed-market currencies measured by Bloomberg Correlation-Weighted Indexes. After cutting year-end estimates by an average of 6 percent in the second quarter, analysts surveyed by Bloomberg have since raised them by 5.1 percent.