NZ PM Key: Fair Kiwi value around 65 cents

FXStreet (Bali) - New Zealand's Prime Minister Key said the fair level for NZD/USD is around 65 cents, adding that he agrees with the RBNZ in that the domestic currency is over-valued, while also noting that any sort of intervention to push the NZD lower "would be logical."

Bernard Hickey, Senior contributing editor of interest.co.nz, notes: "Key made the comments to reporters in Parliament after announcing a supply and confidence agreement with ACT MP David Seymour. Key was asked about the prospect of Reserve Bank intervention after Governor Graeme Wheeler issued an unusually long and detailed statement on Thursday afternoon saying why the currency was at an unjustified, unsustainable and extremely high level. The comments were seen as a warning of intervention."