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Thomson Reuters
Feb 08 - 07:24 AM
AUD/USD - Near 5-Week Low As RBA's SoMP Fuels Rate Cut Bets
First appeared on eFXplus on Feb 08 - 05:15 AM
  • AUD continues to suffer on this week's dovish shift in RBA expectations
  • Rate cut by year-end 92 pct priced vs 80 pct Wednesday (after dovish Lowe)
  • Latest dovish shift follows RBA SoMP nL3N2030DE nL1N20302W
  • US/China trade concerns are also weighing on risk-sensitive AUD nL1N2020Z6
  • 0.70605 = five-week low for AUD/USD in Asia (0.7090 was Thursday's low)
  • Bear targets include 0.7005, 50 pct of 0.6715 (Jan 3 low) to 0.7295

RBAWATCH: Click here

Source:
Thomson Reuters IFR Markets

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