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Rate slips to new lows, breaking.............>

AUSSIE
AUSSIE: Rate slips to new lows, breaking comfortably below the $0.73 mark as the
USD regains some lustre at the NY crossover. AUD/USD now within reach of the
$0.7292/71 Fib retracement levels, marking the 50%/61.8% fibs for the
$0.7203-0.7381 move, which may provide some support. Rate has pulled basck from
the $0.7349 highs printed overnight after Westpac became the first big bank in
Australia to raise some domestic mortgage rates - a move which, if followed by
other major institutions, will make it far trickier for the RBA to raise rates
in the near- to medium-term, as the housing market cools.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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