Kiwi Slides After RBNZ Holds Rates Steady, Warns of Intervention
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The New Zealand dollar fell against all 16 major peers after the nation’s central bank kept borrowing costs unchanged at a record low to avoid re-igniting demand for the currency.
The kiwi slid from the highest this month against the Aussie dollar after Reserve Bank of New Zealand Governor Graeme Wheeler reiterated his willingness to intervene to curb the “overvalued” currency. A report today will probably show Australia’s jobless rate rose to match the highest since September 2009.