Loving this people-power story in the Daily Telegraph which describes how Japanese old ladies have caused a run on the Kiwi currency which even the New Zealand central bank couldn't stop...

Loving this people-power story in the Daily Telegraph which describes how Japanese old ladies have caused a run on the New Zealand currency which even the New Zealand central bank couldn’t stop:

Japan’s day-trading grannies and housewives have overwhelmed New Zealand’s central bank, driving the Kiwi dollar to record highs against the yen despite heavy intervention.

The bank’s attempt to hold the line by flooding the market with Kiwis from its reserve fund appears headed for failure as Japanese investors and hedge funds renew the assault.

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