NZD jumps after RBNZ raises rate course, hints at further cuts

See this post on how the RBNZ is accelerating the rate path ahead:

A more aggressive Bank of New Zealand, not only suggesting further rate cuts but even the possibility of another hike.

NZD/USD has risen, dragging the AUD with it (not to the same extent):

ICYMI, earlier in the session there was news that New Zealand was cutting its defense budget. Tax spending in New Zealand is tightening, arguing against the need for higher rates.