The Kiwi dollar has yet again survived and rebounded back up from an attempted sell-off to rates substantially below 0.6000. And, yet again, the NZ dollar recovery back up to above 0.6000 on Friday 4th May had nothing to do with New Zealand specific currency flow or economic data/conditions. The US dollar weakened across the board in global currency markets last week due to three separate forces/events: - The Bank of Japan intervened directly into the FX markets on two occasions last week, buying Yen, selling the US dollar. Reported Yen buying amounts were US$32 billion and US$22 billion respectively, slamming the ... (full story)