RBNZ's Orr Shocks NZD Shorts Again

From globalprime.com.au

The NZD has been marked up aggressively after a surprising decision to hold rates unchanged at 1% by the RBNZ. Ahead of the risk event, the marked was pricing in 76% chance of a rate cut in today's rate call following the low reading in yesterday's RBNZ's survey of business inflation expectations (1y and 2y out). The AUD has failed to piggyback the rise in the NZD as a WSJ crossed the screens warning that tariffs continue to be the main stumbling block as part of the U.S. and China Phase One trade deal. The world's reserve currency (USD) has found steady demand to start the week following its top performance last ... (full story)