Kiwi Plunges as Much as 2% on RBNZ Sale; Dollar Climbs on Month
The latest news from Bloomberg on the New Zealand Dollar.
New Zealand’s dollar was set for its biggest three-day drop since 2011 after the Reserve Bank said its sales of the currency in August were the most in seven years. The greenback headed for its best month since 2012.
The kiwi slid against all 31 major peers as Prime Minister John Key was reported as signaling that the currency needs to be weaker. Australia’s dollar declined below 87 U.S. cents for the first time since January. The euro fell to a 22-month low versus the U.S. dollar before the European Central Bank meets Oct. 2. The yen dropped to its weakest since August 2008.
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