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NZD Falls As RBNZ Cuts Rates 25bps

NZD
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RBNZ cut rates 25bps to 5.25%, with OIS now about 10bps softer across meetings. NZD has sold off on the back of this with the currency weakest vs JPY

  • NZD/USD fell about 0.90%, although has recovered a touch to trade down 0.60% at 0.6040, with the 50-day EMA acting as support.
  • AUD/NZD rallied about 0.75% testing 1.1000, but as unable to break above, we have now settled back at 1.0980, just on the 20-day EMA
  • NZD/JPY has yet to see a bounce and is now testing yesterday's lows falling 0.80% to 88.48.
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RBNZ cut rates 25bps to 5.25%, with OIS now about 10bps softer across meetings. NZD has sold off on the back of this with the currency weakest vs JPY

  • NZD/USD fell about 0.90%, although has recovered a touch to trade down 0.60% at 0.6040, with the 50-day EMA acting as support.
  • AUD/NZD rallied about 0.75% testing 1.1000, but as unable to break above, we have now settled back at 1.0980, just on the 20-day EMA
  • NZD/JPY has yet to see a bounce and is now testing yesterday's lows falling 0.80% to 88.48.