• NZD lower on New Zealand Treasury confirming RBNZ could cut OCR to minus 0.35% in a crisis. • AUD/NZD spikes to a high of 1.0512 and NZD/USD to a low of 0.6438. New Zealand Treasury has come out and confirmed that the Reserve Bank of New Zealand, (RBNZ), could cut OCR to minus 0.35% in a crisis. This follows a series of similar reports from various origins of late which have pressured the NZD lower, topped off by a surprise 50 basis point cut by the RBNZ) earlier this month. Key notes: Sees asset purchases as less appealing tool. FX implications: This has sens the NZD/USD lower on the session so far which is ... (full story)