In case you missed it, the New Zealand dollar dropped like a rock against its major counterparts earlier today following a weaker quarterly inflation expectations print in New Zealand. The Reserve Bank of New Zealand's (RBNZ) survey showed the two-year-ahead inflation expectations easing from 2.76% to 2.50% in Q1 2024, which would support a less hawkish stance from the central bank. But NZD doesn't look like it can sustain its downswings as it takes a chill pill from its losses. Remember that RBNZ hasn't shared new policies this year but Chief Economist Paul Conway said that they "still have a way to go" before they can bring inflation to their targets. Meanwhile, Bank of Japan (BOJ) members have hinted at their readiness to exit from their negative interest rate policies but also downplayed any changes, which suggests that we won't see aggressive tightening from the BOJ gang.