ytt 2007-6-11 13:41
New Zealand Govt intervened NZ Dollar
For your information the Reserve Bank released this news release a short
time ago
News release
11 June 2007, 3.45pm
Reserve Bank confirms forex intervention
The Reserve Bank confirmed it has intervened today in the foreign
exchange market to sell New Zealand dollars.
Reserve Bank Governor Alan Bollard said: "As stated in our June
Monetary Policy Statement, we regard current levels of the exchange rate
as exceptional and unjustified in terms of the economic fundamentals.
"This action does not prejudge the future direction of monetary policy,
which as always will remain dependent on emerging economic trends.
"The action is consistent with clause 4(b) of the Policy Targets
Agreement, which requires monetary policy to avoid unnecessary
instability in the exchange rate."
For further information contact:
Mike Hannah
Head of Communications
Ph 04 4713671, 021 497418, [email]mike.hannah@rbnz.govt.nz[/email]
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b4321 2007-6-11 16:37
Gov't can only do short term invtervension for its currency, unless it closes its currency system like Malaysia in the 1997, but that will be a diaster for the country and losing faith for foreign investors.
NZ is only a small country ( 3M population?) and growing inexpensive farming products and I doubt if it has any ability to act against the whole world.
So if u like NZD, every time for the gov't intervension, it is a good chance for u to buy.
ytt 2007-6-11 16:57
very professional
just like yen 2 years ago
nz can trade range say 0.735-0.755
peninsula 2007-6-11 17:40
[quote]原帖由 [i]ytt[/i] 於 2007-6-11 16:57 發表
very professional
just like yen 2 years ago
nz can trade range say 0.735-0.755 [/quote]
Good time to buy after adjustment.:o:soldier::quiet:;P