The RBA Minutes released overnight were inconclusive. Whilst they did state they plan to cut rates further in the future, the market did not take this on board too much, probably because there is so much AUD weakness already priced in. Since the market was already expecting such an outcome there is little appetite at this stage for a further sell off so the rates have not weakened so much.
The long term prospects for the Aussie may not be great but if the market has already priced in worse deals, it won’t just keep selling off. There is the good chance of a small recovery in the rate, something AUD sellers might want to take on board, AUD buyers too! For more information at no cost or obligation please speak to me Jonathan on [email protected]