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AUD posted a sharp pullback on the back of...>

AUSSIE
AUSSIE: AUD posted a sharp pullback on the back of Westpac's decision to revise
their RBA rate call and is now the weakest G10 currency, save NZD. Westpac now
exp. the RBA to cut the cash rate by 25bps in both August and November this
year. They have also revised down their "GDP growth forecasts for 2019 and 2020
from 2.6% to 2.2%. With the slower growth profile we now expect to see the
unemployment rate lift to 5.5% by late 2019. That makes a strong case for
official rate cuts to cushion the downturn and, in turn, meet the RBA's medium
term objectives."
- AUD/USD last trades at $0.7152, AUD/JPY last trades at Y79.12 and AUD/NZD last
trades at NZ$1.0459.

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