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Currency Rhetoric Heats Up as Wheeler Warns on Kiwi

New Zealand’s central bank governor said he’s ready to intervene in foreign-exchange markets, adding to comments by officials from South Korea to South America warning their currencies are too strong, even as Group-of-20 nations say they’ll refrain from competitive devaluation.

The New Zealand dollar fell against its 16 major peers after Reserve Bank Governor Graeme Wheeler said “the kiwi is not a one-way bet.” After Japan’s leaders pledged steps to boost the economy that caused the yen to tumble, policy makers in South Korea and the Philippines are weighing curbs to capital inflows, while Norway’s central bank said it is ready to cut interest rates to counter the krone’s strength.