New Zealand central bank Governor Graeme Wheeler warned investors against “one-way” bets on the nation’s currency and said the monetary authority is prepared to intervene. The local dollar tumbled. “When the New Zealand dollar is coming under upward pressure, we want investors to know that the kiwi is not a one- way bet,” Wheeler said in a speech to manufacturers and exporters in Auckland.“The Reserve Bank is prepared to intervene to influence the kiwi. But given the strength of recent capital flows, we can only attempt to smooth the peaks.” New Zealand’s dollar has gained 1.7 percent this year against its U.S. ... (full story)