The RBNZ is expected to keep rates unchanged but issue a more dovish statement when their monthly decision is announced in a few minutes. A 25 bps cut would not be a huge surprise but the weakening of the NZD over the last few weeks will probably encourage them to wait another month or so.
EUR made solid gains overnight against the GBP and AUD on the back of more short-covering pre-event risks.
Good luck today.
