(Bloomberg) -- The Reserve Bank of New Zealand is
set to ``strike again'' in the currency market to curb gains in
the country's exchange-rate, according to UBS AG, the world's
second-largest foreign-exchange dealer.
The central bank today sold its currency to halt a rally to
a 22-year high against the U.S. dollar. The intervention, the
bank's first since setting up a NZ$7 billion ($5.3 billion) fund
to stabilize the market in 1990, adds to risks for investors who
buy New Zealand assets using funds borrowed in Japan.
Read more at Bloomberg Currencies News
set to ``strike again'' in the currency market to curb gains in
the country's exchange-rate, according to UBS AG, the world's
second-largest foreign-exchange dealer.
The central bank today sold its currency to halt a rally to
a 22-year high against the U.S. dollar. The intervention, the
bank's first since setting up a NZ$7 billion ($5.3 billion) fund
to stabilize the market in 1990, adds to risks for investors who
buy New Zealand assets using funds borrowed in Japan.
Read more at Bloomberg Currencies News
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