SUMMARY
The Reserve Bank of New Zealand implemented a 25-basis point rate cut, in line with expectations. However, the decision included a dissent from Governor Hawkesby, whose stance was less dovish than anticipated, contributing to a stronger New Zealand dollar this morning.
The U.S. dollar has extended its gains from yesterday, opening the day broadly stronger, while the British pound is showing marginal weakness.
Market participants will be closely watching remarks from Federal Reserve official Neel Kashkari later today, along with the release of the latest FOMC meeting minutes.
