The latest poll from Reuters following the RBNZ rate cut to 2.25%
- 3 from 12 see 2.00% at the April meeting
Adam was out with the news in late NY session where he noted:
Few analysts and traders were expecting the RBNZ to cut rates. The surprise move sent NZD/USD to 0.6653 from 0.6775 before the announcement.
The central bank compounded the selling by warning of further rate cuts and saying a further decline in the currency is appropriate.
Eamonn had the full rundown and reaction to the surprise RBNZ rate cut here.
NZDUSD currently 0.6645 after lows of 0.6618
