Taiwan and New Zealand want their dollars down
Taiwan Dollar Rally Seen Ending on Intervention, Market Reversal
From Bloomberg News
Monday, October 7, 2013
Trading patterns suggest the rally that drove the Taiwan dollar to an eight-month high will end on speculation that central bank Governor Perng Fai-nan will step up intervention to support exporters.
The currency's 0.7 percent advance since the Federal Reserve unexpectedly maintained its bond-purchase program on Sept. 18 pushed the 14-day relative strength index to 29 on Oct. 4, below the 30 threshold that typically signals a reversal, according to data compiled by Bloomberg. The Taiwan dollar's commodity channel index stayed below minus 100 in the last four trading days, which some technical analysts interpret as meaning the U.S. currency was oversold.
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English Says New Zealand Dollar Exchange Rate Still Too High
By Matthew Brockett
Sunday, October 6, 2013
WELLINGTON, New Zealand -- New Zealand Finance Minister Bill English said the nation's currency remains too strong and is hampering exports.
"The exchange rate, in our view, is still too high," English said in Wellington today after the Treasury published financial statements for the year through June. "It remains a headwind for the export sector."
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