Consider Euler's equations for a rigid body with a body-fixed reference frame aligned with the principal axes of inertia:
[tex]
\begin{align*}<br />
I_1\dot{\omega}_1 + \underline{(I_3 - I_2)\omega_2\omega_3} &= L_1 \\<br />
I_2\dot{\omega}_2 + \underline{(I_1 - I_3)\omega_3\omega_1} &= L_2 \\<br />
I_3\dot{\omega}_3 + \underline{(I_2 - I_1)\omega_1\omega_2} &= L_3<br />
\end{align*}[/tex]
(More generally, [itex]\dot{\boldsymbol{h}}_\mathrm{c} = \boldsymbol{L}_\mathrm{c}[/itex])
Note the underlined coupling terms. These cause rotation/moments about one axis to affect the other two. This is why rotation results in precession and nutation.