The New Zealand dollar fell today after Reserve Bank of New Zealand Governor Graeme Wheeler said that the central bank is prepared to weaken the currency.
Wheeler said today:
In recent months we have undertaken foreign exchange transactions to try and dampen some of the spikes in the exchange rate. We are prepared to scale up our foreign exchange activities if we see opportunities to have greater influence.
The New Zealand currency was falling against its US counterpart since April, but now it is trying to consolidate.
NZD/USD fell from 0.8093 to 0.8071 as of 16:57 GMT today, reaching the low of 0.8002 intraday — the weakest level since September 7. NZD/JPY declined from 81.87 to 81.41.
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