Daily Alert: NZD/EUR back on the march; RBNZ decision to bring volatility

  • Market feathers were ruffled overnight by a rare event – a downside surprise on inflation
  • Market reaction was probably overstated by the fact yields were overdue a near-term correction given their surge higher of recent weeks (and as covered in our weekly)
  • Global commodity prices have been the other big mover of the night

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