The Reserve Bank’s 'dovish' big hike yesterday hit the currency hard overnight, just in time for Australian tourists on their first weekend here.
New Zealand's Reserve Bank has been weighing up the inflation outlook as it prepares to hike the official cash rate.
US stocks are closing down 2% on fears higher interest rates will hit profits and drive the US economy closer to recession.
US interest rates rose to fresh three-year highs over the weekend as investors brace for US inflation data expected to show annual inflation hit 8.4% in March.