New Zealand dollar has surged higher after the Reserve Bank of New Zealand 50bp rate cut

Decision and summary of statement and minutes is here:

NZD/USD has jumped:

That’s a big surge for the kiwi$ on a decision that was widely expected. I don’t see the statement and minutes as hawkish but maybe some out there do.

This article was written by Eamonn Sheridan at www.forexlive.com. Source