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FOREX
FOREX: Westpac note that "the Aussie has fallen more than 4% against the British
pound since late August on a combination of greater optimism over Brexit
negotiations and AUD negatives such as US-China trade tensions and Australian
political turmoil. With the RBA firmly on hold, backed by headline GDP growth
above 3% and commodity prices grinding higher, AUD has the scope for recovery on
crosses in coming months. But in the next few weeks, AUD's apparent role as
proxy for US-China trade relations seems likely to cap rallies. Risks look
skewed for a break above AUD1.85 in GBP/AUD."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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