Action Insight Daily Report Kiwi Tumbles on RBNZ Cut, Key Data from EZ, UK Featured Kiwi was the biggest mover overnight after RBNZ's surprised 25bps cut in OCR and a rather dovish statement. In the accompanying statement , RBNZ noted that "economic activity is likely to remain weak over the remainder of 2008," and "provided that the outlook for inflation continues to improve and there is no excessive exchange-rate depreciation, we would expect to lower the OCR further." NZD/USD fell sharply
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