Forex news for Asia trading Thursday 11 August 2016
The Reserve Bank of New Zealand delivered the much telegraphed rate cut today, a 25bp cut and a promise of more to come, especially if the NZD rises (so we should get another one tomorrow, right? – joke). As soon as the cut was announced the NZD/USD jumped more than a cent; the market well positioned for a cut after RBNZ communication in past weeks and the immediate reaction was a short cover.