NZD under 0.6450, big drop on the surprise from the RBNZ

Earlier posts on the Reserve Bank of New Zealand decision are here:

• RBNZ cut the New Zealand cash rate by 50bps, bigger than expected

• RBNZ cuts the cash rate by a whopping half a percent - NZD down a big figure

While the move is a surprise the big cut now makes further cuts ahead less likely. NZD doesn't care, its losing a few more points.

Oh … it also means US President Trump is probably on the phone to Governor Orr right now offering him a job ….