NZD and AUD are going down due to expectation of rate cut but when rates are unchanged they are going down further. Just by verbal intervention. Totally difficult to understand.
NZ OCR unchanged at 3.5 percent
Statement issued by Reserve Bank Governor Graeme Wheeler: The Reserve Bank today left the Official Cash Rate unchanged at 3.5 percent. Trading partner growth in 2015 is expected to be similar to 2014, though the outlook is weaker than anticipated last year. Divergences continue among regions, with growth in China, Japan and the euro area easing in recent quarters, while growth in the US has remained robust. World oil prices have fallen 60 percent since June last year, which will boost spending power in oil importing economies but reduce incomes for oil exporters. The oil price decline, together with uncertainties ... (full story)