(Bloomberg) -- The New Zealand dollar may extend
its rally by as much as 3 percent to 83 U.S. cents, said John
Key, the opposition leader who correctly forecast its surge to
80 cents.
``The fundamental drivers are still there, the weak U.S.
dollar and the appetite from places like Japan for yield,'' Key,
a former European head of global foreign exchange at Merrill
Lynch & Co., said in an interview from Wellington. ``But we're
at the point where the high exchange rate will bite in and the
losses experienced by exporters will affect the economy.''
Read more at Bloomberg Currencies News
its rally by as much as 3 percent to 83 U.S. cents, said John
Key, the opposition leader who correctly forecast its surge to
80 cents.
``The fundamental drivers are still there, the weak U.S.
dollar and the appetite from places like Japan for yield,'' Key,
a former European head of global foreign exchange at Merrill
Lynch & Co., said in an interview from Wellington. ``But we're
at the point where the high exchange rate will bite in and the
losses experienced by exporters will affect the economy.''
Read more at Bloomberg Currencies News
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