Take the mid 1970s, for example, when the NZ dollar out-flew the US greenback – the big bird of global currencies – by about 50 per cent.
But the days when NZ$1 could purchase US$1.50 are long gone. Since that ‘70s high-point, the Kiwi has plummeted back to earth hitting a low of about US40 cents early this century.
More recently the Kiwi has been flapping around erratically in a broad range of between US50 cents and over US80 cents.
The bizarre, unpredictable flight pattern […]