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AUDUSD Sells Off Heavily On RBA & China Data
The Aussie Dollar has come under heavy selling pressure today on the back of the September RBA meeting and yet a further set of weak China data. The RBA held rates unchanged at the meeting overnight, marking the third consecutive time rates have remained at 4.1%. The meeting, which was the last for former governor Lowe, saw the outgoing RBA chief repeating his message of concern over downside economic risks. Downside Risks for Aussie Economy While Lowe noted that further tightening might still be necessary, this would depend on incoming data and how risks developed going forward. In terms of those downside risks, the ... (full story)