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​RBA Surprises With +25bps, AUD Higher Along With Local Yields ​​​​​​

RBA

The RBA has surprised the market, raising rates by 25bps to 4.10%. Some forecasters expected a hike, but the majority rested with no change. The AUD has spiked as a result, last in the 0.6660/70 region, we were close to 0.6620 prior to the outcome. 3yr bond yields have risen to 3.65%, we were around 3.53% prior. The central bank also left the door ajar for further tightening. More details to follow

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