90 at 9: NZ dollar firm despite Bollard; US banking overhaul; Eddie Bauer bankrupt

Bernard Hickey details the key news overnight in 90 seconds at 9 am in association with ASB, including news that the New Zealand dollar rose overnight despite Alan Bollard's attempt yesterday to talk down the New Zealand dollar. Also, interest rate markets ignored Bollard's call for lower short term borrowing rates. Meanwhile, US President Barack Obama has unveiled reforms to banking regulation, but they are more tweaks than a complete rebuild. In another sign that US consumers are keeping their hands in their pockets, one of America's biggest outdoor clothing chains, Eddie Bauer, has filed for bankruptcy protection and inflation figures show US prices fell 1.3% in the last year, but were up 0.1% from a month ago.