Asia Session

The Asian markets began with a shock as the Reserve Bank of New Zealand unexpectedly cut interests by 25 basis points to 8%.  Kiwi promptly broke lower from the .7500 area to below .7450 and has had trouble getting back over that level since then.  To add fuel to the fire, the RBNZ, based on the economic and inflation outlook, expects to cut further. While the USD was well bid during the NY session and against NZD, we saw the USD drift lower albeit not at the same pace of selling we
[visit website]