New Zealand Dollar Drops on Speculation Central Bank Is Selling Currency

(Bloomberg) -- The New Zealand dollar, the best-
performing major currency in the past 12 months, dropped on
speculation the nation's central bank intervened to drive it
lower for the second time this month.

Traders and strategists at Bank of New Zealand Ltd. and ANZ
National Bank Ltd. said the central bank probably sold New
Zealand dollars today. The central bank has ``no comment to
make,'' spokeswoman Anthea Black said by telephone from
Wellington.


Read more at Bloomberg Currencies News