The kiwi is going nuts

New Zealand dollar is stronger after the Reserve Bank of New Zealand cut rates to a record low.

The currency is up by 0.5% at .7251 per dollar as of 7:19 a.m. ET, after strengthening to as much as .7308 earlier in the day.

The RBNZ lowered rates to 2.00%, and the board suggested that this wouldn’t be the last cut.

“Current projections and assumptions indicate that further policy easing will be required to ensure that future inflation settles near the middle of the target range,” they wrote.

As for the rest of the world, here’s the scoreboard as of 12:06 p.m. ET:

  • The British pound is down by 0.2% at 1.2985 against the dollar. The currency hit a one-month lower against the dollar earlier in the day.
  • The Russian ruble is up by 0.2% at 64.7220 per dollar. Separately, on Wednesday, Russian President Vladimir Putin accused Ukraine of being behind terrorist attacks in Crimea. Ukraine denied the alleged incidents took place. Notably, tensions seem to be rising in the region.
  • The Korean won finished down 0.3% at 1,099.45 after the Bank of Korea held rates at 1.25%, as economists were expecting.
  • The euro is down by 0.3% at 1.1151 against the dollar.
  • The US dollar index is up by 0.1% at 95.78 ahead of the initial jobless claims, which will be out at 8:30 a.m. ET.

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