RBNZ Governor Graeme Wheeler yesterday laid out some home truths for markets. The NZD is not a one way bet. And markets looking for rate hikes in 2013 may be a step too far – unless the currency tanks that is. We come in this morning with the NZD/USD down a cent and the 2yr swap rate 6bps lower from …

New Zealand shares fell, led by Fletcher Building after the biggest company on the NZX 50 Index posted first-half earnings highlighting tough times in Australia. Fisher & Paykel Healthcare jumped after unexpectedly lifting its guidance. The NZX 50 fell 29.97 points, or 0.7 percent, to 4214.24. Within the index, 25 stocks fell, 16 rose and nine were unchanged. Turnover was …

The New Zealand dollar shed more than half a US cent after Reserve Bank governor Graeme Wheeler outlined the central bank’s criteria to intervene in currency markets, and said he was prepared to act when those were met. The kiwi fell to 84.04 US cents at 5pm in Wellington from 84.61 cents immediately before Wheeler’s speech and down from 84.37 …