Reserve Bank of New Zealand Governor Graeme Wheeler is upping the ante in his campaign against the local dollar’s world-beating gains. New Zealand’s kiwi tumbled the most in 11 months yesterday after Wheeler said in his policy statement that its strength was “unjustified” and that he’ll wait before raising interest rates further. The currency is the best performer among 31 peers tracked by Bloomberg over the past five years and came this month within 0.1 U.S. cent of surpassing a record high. Wheeler has struggled for months to square his ambition for a weaker, more export-friendly local dollar and the need for ... (full story)