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RBA Willing to Lower Rates Further, GBP Slides on Boris Johnson’s Lead

JFD

The dollar traded mixed against the other G10s, while most equity indices stayed within a ±0.20% range, as investors stayed put ahead of tomorrow’s FOMC decision. The Aussie was the main loser, coming under selling interest after the minutes from the latest RBA meeting revealed that, just after hitting the cut button, policymakers remained willing to do it again. The pound slid as well as Boris Johnson remains the front-runner for replacing Theresa May. Today, we have the second round of the elimination process towards finding May’s successor.

Markets Await the FOMC Decision, AUD Tumbles After the RBA Minutes

The dollar traded mixed against the other G10 currencies on Monday and during the early morning Tuesday. It gained against AUD, GBP, NOK and NZD in that order, while it underperformed against JPY, CHF, EUR and SEK. The greenback traded virtually unchanged against CAD.

At first glance, the strengthening of the safe-havens yen and franc, combined with the weakening of the risk-linked AUD and NZD, suggests a risk-off trading environment. However, looking at the...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbank.com/en/research/rba-willing-to-lower-rates-further-gbp-slides-on-boris-johnsons-lead-20190618
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