The dollar is showing moderate across-the-board gains as London participants take to their desks. The Kiwi dollar is the polar opposite, down over 1% against its U.S. counterpart following a shock rate cut from the RBNZ, which cut its benchmark rate by 25 bp to 2.25% citing a "deteriorated" global outlook, a "material" decline in inflation expectations and "difficult challenges" in the key dairy sector. NZD-USD tumbled to an eight-day low of 0.6619, and the Kiwi dove to a near six-month low versus the Aussie dollar.
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