“New Zealand’s central bank governor was ready to intervene in foreign exchange markets, he said yesterday, the latest in a string of countries from South Korea to Brazil warning their currencies were too strong even as Group of 20 (G20) nations pledged to refrain from competitive devaluation. Policymakers in South Korea and the Philippines are weighing curbs to capital inflows while Norway’s central bank said it was ready to cut interest rates to counter the krone’s strength. ‘There seems to be a sense that the gloves are off in terms of central bank action in currency markets,’ said Mitul Kotecha, global head of foreign exchange strategy at Credit Agricole.”
http://www.iol.co.za/business/business-news/don-t-bet-on-kiwi-strength-warns-new-zealand-1.1474138
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