Global forces may force the RBA’s rate cut hand
Global factors will weigh on the Reserve Bank board tomorrow, with both unexpected weakness in the US and the continuing quantitative easing programs of Europe and Japan putting unwelcome upward pressure on the Australian dollar.
"Research by Westpac currency strategists Jonathan Cavenagh and Robert Rennie shows there have been important shifts in the weighting of the factors that shift the value of the Australian dollar. The currency has become a lot less responsive to the moves in commodity prices since the peak in commodity markets in 2011" … and it's not the only one
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