Dealers report a lot of short-covering in NZD/USD and NZD/JPY after the RBNZ statement from earlier today. NZD/JPY has jumped almost 2% from 62.40 to 63.60 in the last few hours and there may be more to come in thin and illiquid markets. The AUD/USD and the other JPY crosses have rallied mildly in reaction to the Kiwi moves.