RBNZ antes-up in the currency wars, NZD risk to downside

Posted on August 12th, 2016

The NZD rallied sharply in an extraordinary reaction to a rate cut on Thursday.  Even though the cut was fully anticipated, I cannot recall such a powerful perverse response to an RBNZ rate decision.  It illustrates the lower liquidity in FX markets in recent years around key events as banks and the wider market rely […]