How can I open a Terminal window directly from my current Terminal location? Related to How can I open a Terminal window directly from my current Finder location?, I would like to have a terminal window open in one location, and open another one.

E.g. under Linux, I could be in ~/foo/bar/files/ in one terminal window, and type Ctrl-Shift-N and a new window would open at that same location.

In Mac OS X, I can only do ⌘N which opens a new terminal in my home directory. Is there any way to open the new terminal in the current directory?
Simply change the Terminal settings Terminal -> Preferences -> Startup -> New windows open with: Same Working Directory.