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Currency intervention 'not the answer'
Thursday 1st of August 2013
It hit a new five-year high yesterday.
Reserve Bank acting economist Tim Ng said any currency intervention would only work at the margin. Since the global financial crisis, movements of currency across borders did not look to be attached to the fundamentals of an economy, he said, as much as a search for safe havens. “It may be that on occasion central banks transacti...
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