Sterling vs the Australian Dollar has maintained its level above 2 for the third day in a row as the RBA minutes confirmed concerns about the property market in both Sydney and Melbourne.
I think the RBA will be open to further rate cuts this year and they will just have to hope that the property market doesn’t spiral out of control too much.
Governor Glenn Stevens has suggested that he is concerned about weak business investment which implies that a rate cut could be necessary in the future causing the Australian Dollar to weaken vs Sterling.
With an RBA bulletin due on Thursday this could see further weakness for the Australian Dollar creating some excellent opportunities to buy Australian Dollars.
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