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AUD Tumbles on Gov. Lowe’s Comments, GBP Down After Services PMI


The Aussie was the main loser among the G10 currencies, tumbling after RBA Governor Lowe said that the next move in interest rates could be in either direction, putting the rate-cut option officially on the table, although yesterday’s meeting statement did not provide such hints. The pound was the second underperformer in line, with the initial trigger behind its slide being the disappointment in the UK’s services PMI for January. Technical selling in Cable for breaking below the psychological zone of 1.3000 may have added extra pressure.

RBA Governor Lowe Puts a Rate Cut on the Table

The US dollar continued outperforming most of the other G10 currencies, gaining the most against AUD and GBP in that order. The greenback traded virtually unchanged only against JPY, CHF and SEK.

The main loser was by far the Australian dollar, which came under massive selling interest overnight after RBA Governor Philip Lowe used his first speech for 2019 to put a rate cut on the table. The Governor said that...

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Source: https://www.jfdbrokers.com/en/research/aud-tumbles-on-gov-lowe-comments-gbp-down-after-services-pmi
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