NZD/USD higher after the Reserve Bank of New Zealand raises its cash rate target by 75 bp

A big rate rise from the Reserve Bank of New Zealand, who had been hiking by 50bp up to today.

Cranking it up with hawkish commentary also. The Bank says it considered a 100bp rate hike!

• RBNZ raise cash interest rate target by +75bp to 4.25%, as widely expected

NZD/USD higher, 1 minute candles: