NZ FinMin Joyce: NZD being driven by weaker USD

The NZD bulls appear to remain unimpressed by the optimistic comments from NZ finance minister Joyce, as he continues to make a speech on the economic outlook.

Additional headlines:

NZD being driven by weaker USD and the view that NZ's BOP deficit is not of concern

Key Quotes:

My view on the (NZD) dollar is that it will fundamentally operate at these sorts of levels until those things change"

"It might come down a bit but I'm not going to start offering opinions on what it should be. It is what it is."

"We're coping very well by historic standards with a dollar that's now been historically high for a significant period of time.”

“For business the strong rate has been positive for input prices, fuel and raw materials and certainly for capex"