It was great to be right about the NZ rate cut yesterday

I read the trader reviews and found there was a chance of a surprise cut
(I posted yesterday it was in the air)
I remember that NZ had cut before (couple of months ago) unexpectedly

I looked at the market and the fundamentals
and decided that a rate hold would not entice bulls (a lot)
so there was not great danger in going short in anticipation of a surprise cut

I did not want to risk too much, so I took a small Nzd short
and had buy stops waiting in GbpNzd and EurNzd
I took a beating on the huge spreads after the rate decision but still ended up with a good profit on the day

gl all
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– lub –