The Australian Dollar (AUD) was sold aggressively after the central bank RBA cut rates to 4.25% vs. 4.5% previously. The market found support under 1.0200 and bounced back in Europe with stock markets rallying. The outlook is mixed with the Chinese story darkening and the Eurozone crisis still unresolved. Looking ahead, Q3 GDP forecast at 1.0% vs. 1.2% previously.
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