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Aud/Usd: Asia open $0.8019, range....>

AUSSIE SUMMARY
MNI (London)
AUSSIE SUMMARY: Aud/Usd: Asia open $0.8019, range $0.8011-0.8139. Europe open
$0.8025, range$0.8020-43.
* Aud rose from $0.8011 to $0.8039, improved Westpac consumer confidence and
rise in ore prices underpinned. 
* NAB also announced a change to their outlook for RBA cash rate. 
* NAB previously expected 2 more cuts, changed to forecasting a 0.25% rate hike
in Aug 2018 and 0.25% hike in Nov 2018.
* Aud dropped suddenly from around $0.8030 to $0.8013 on reported RBA Harper
comments.
* RBA Harper said, 'Economic growth is too weak to justify a rate hike', 'Aud
gains driven by weaker Usd'.
* Knee-jerk reaction before Aud bounced to $0.8032, consolidated in the mid to
high $0.8020's into Europe.
* Generally softer Usd in Europe allowed rate to edge to a fresh intraday high
of $0.8043.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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