Risk Aversion Slows Following the RBA’s largest rate cut in 16 yrs |
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Forex: Major FX pairs remained rangebound for much of the Asian session before Reserve Bank of Australia delivered a shot heard around the world. In what is rumored to mark the start of a coordinated global easing, Aussie central bank surpassed consensus estimates of a 50bps cut, slashing overnight lending rates by 100 points to 6.00%. After initial knee-jerk selling in AUD that pushed AUDUSD toward critical 0.70 support levels, renewed risk appetite forces reversed major currency trends
Filed under: Fundamental
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