Pepperstone: NZD o'night vols trading to highest since last March ahead of the RBNZ overnight, with spot NZD +1% on the day to its best since 18th July...NZD OIS discounts around a 67% chance of a 25bp cut, though the sell-side consensus calls for the RBNZ to hold rates steady...

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SUMMARY OF FED DECISION (11/7/24): Fed cuts interest rates by 25 bps in 2nd cut of 2024 Vote for 25

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