I am starting to feel sorry for Alan Bollard, reserve bank governor. The exporters are screaming, Cullen is dropping reminders in the form of spin, economists are jumping every which way and using a great number of words while doing so and mortgagees are whimpering.
Why? Because the dollar rocketed up not only over 80c US but over 81c US.
If you have a yen to buy some US dollars now is the time to do so. If you don't fancy that buy some Yen. Japanese grandmothers seem to by exchanging yen for NZ and AUS dollars by the truck load.
The worring thing is that there is next to nothing Alan Bollard or the New Zealand government can do about it without causing a crash.
Well at least it is keeping the price of petrol down.
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