RBNZ's McDermott: NZD overvalued from long term perspective

FXstreet.com (Barcelona) - RBNZ Assistant Governor Dr John McDermott is delivering a speech in Wellington titled "influences on the exchange rate". One of the key headlines read "the Reserve Bank believes that, from a long-term perspective, the exchange rate is overvalued", and that "the high exchange rate is contributing to economic imbalances", adding "the Reserve Bank would like to see it lower in order to promote more sustainable economic growth."