Monday, Jun 11, 2007
Humpty Dumpty had a great fall.
FT.com: NZ dollar tumbles as intervention confirmed
NZ dollar tumbles as intervention confirmed
The New Zealand dollar tumbled from a 22-year high versus the U.S. dollar on Monday after selling by the Reserve Bank of New Zealand raised concerns about how much longer carry trades would continue.
The dollar was little changed against the euro and the yen, holding onto gains versus the euro after hitting a two-month high late last week when the benchmark U.S. Treasury yield jumped to its highest level in around five years
Posted by dangerous trading @ 07:11 AM (306 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Pinetree said...
This is what happens when you try to steer the economy with interest rates but also have the 2nd highest interest rates in the OECD. You keep putting rates up to stop idiots spending more borrowed money on liabilities (houses) and all you end up doing is encouraging traders at Canary Wharf to treat the NZD like poker chips. Unfortunately the dumb a*se socialists didn't see this coming.
The NZ Peso is not worth anything like what it's trading at, NZ has a current account deficit at 9% of GDP, we'll have to milk a lot of cows to trade our way out of this mess!