Click here to watch this morning's video. Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news the New Zealand dollar rose over 75 US cents this morning, riding high on the coat tails of the Australian dollar. There is fresh talk of fast rate hikes in Australia. Deputy Reserve Bank of Australia governor Philip Lowe said Australia's Official Cash Rate needed to be returned to 'appropriate settings', Bloomberg reported. Traders took this to mean rate hikes would be fast. Meanwhile, there is fresh talk of withdrawing stimulus in the United States, which contributed to US$ weakness. Risk appetites for investing outside the US are also up. The Dow rose 1%, Bloomberg reported. Meanwhile a big insider trading scandal has erupted in the United States, where Sri Lankan hedge fund billionaire Raja Rajaratnam is accused of insider trading and backing the Tamil Tigers, the New York Times reported.
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