While Trump’s election win is still causing some uncertainty in financial markets, attention in New Zealand has swiftly moved to the kiwi dollar following comments by Governor Wheeler that the RBNZ has an “open mind” to the possibility of using foreign exchange intervention to weaken it. We wouldn’t rule out an intervention in the future, but the language used by the RBNZ about the exchange rate hasn’t been strong enough to signal that an intervention is imminent.
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