The NZD dove to five-year lows against the USD following an unexpected RBNZ rate cut, while EUR-USD drifted back under 1.1300 and USD-JPY recovered some of the lost ground seen during yesterday's sharp decline. EUR-USD ebbed to a two-day low at 1.1240 having failed to sustain gains above 1.1300 after a three-day run higher peaked yesterday at 1.1374.
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