Westpac quick to put out a take on the Reserve Bank of New Zealand policy announcement.
In brief (bolding mine):
- RBNZ … signalling a stronger easing bias than it gave in May
- strongly hinting that August is live.
- The policy guidance paragraph appeared at the top of the one-page press release, having been notably omitted from May's press release, and was repeated at the end, giving it more emphasis.
NZD/USD has stopped at the overnight high (so far …):