I think it was also intervention by RBNZ. -520m NZD sold in Aug. I would imagine if they (Key and wheeler) wanted to maximise effectiveness of selling and bringing nzd down, why not just tip off a few of their old FX pals (probably now investment bankers) and they simply add to the sell pressure... everyone is a winner! (except for actual kiwis, who'll pay more for basically everything, without corresponding wage hikes).
Key reckons 0.65 is the natural level for NZD/USD. So, next rally, if there is one, might put a wee short on. Personally not going to fight with a CB
