The New Zealand dollar rose today even though nation’s Finance Minister Bill English voiced concern about the currency’s strength. The kiwi was trading near the highest level since 2007 against the Japanese yen.
The Minister was speaking at the 17th Annual Credit Suisse Asian Investment Conference in Hong Kong today and his comments about the exchange rate were not particularly positive for the currency:
Itâs a bit too high. It makes it difficult for our economy to rebalance.
Yet the kiwi (as the New Zealand currency is nicknamed) rallied despite the comments along with its Australian counterpart.
NZD/USD rose from 0.8570 to 0.8604 and NZD/JPY advanced from 87.63 to 88.12 as of 13:37 GMT today.
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