The AUD and NZD have outperformed today following much stronger than forecast Australian employment data in the case of the former, and after an as-expected rate cut from the RBNZ in the case of the latter. AUD-USD is off its intraday highs but is still showing a 0.8% gain at 0.7287 bid, having reversed much of the losses seen over the previous three days. NZD-USD rallied nearly 1% in logging a six-day high of 0.6762. The RBNZ cut the OCR by 25 bp to 2.5%, a move fully anticipated, and marking the fourth cut since June.
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