A record New Zealand dollar pushed the central bank into its first confirmed currency intervention in six years. It’s also forcing the nation’s biggest exporters to innovate as the soaring kiwi squeezes returns.
Gold rebounded from the biggest drop in 33 years as BlackRock Inc. said sales didn’t reflect fundamentals and an Asian central banker said policy makers may take the opportunity to buy. Silver also advanced.
Falling gold prices amid the worst selloff in more than three decades provide an opportunity for monetary authorities to increase their holding of the metal, Central Bank of Sri Lanka Governor Ajith Nivard Cabraal said.