The New Zealand dollar hitting a 3-month high of 0.7375 today every bit Graeme Wheeler, Governor of the Reserve Bank of New Zealand, announced he volition non endure seeking a minute term.
Governor Wheeler volition serve out the residuum of his term, which ends on September 26, 2017.
New Zealand’s Minister of Finance, Steven Joyce, said Grant Spencer volition succeed Mr. Wheeler every bit Governor for a menses of vi months later on Wheeler's term is over. Since 2007, Grant Spencer has acted every bit Deputy Governor in addition to Head of Financial Stability in addition to is currently heading the OECD Committee on Financial Markets.
The abrupt annunciation yesteryear New Zealand’s fundamental banking concern sent the NZD/USD currency brace rocketing higher yesteryear 50+ pips (0.80 percent) to a 90-day high of 0.7375. The final fourth dimension the NZD traded this high against the U.S. dollar was on Nov 8, 2016.
Since the initiatory off of the year, the
New Zealand dollar has appreciated yesteryear to a greater extent than than 6 part against the U.S. dollar.
NZD banknotes photograph yesteryear Kristina D.C. Hoeppner
