Australian Dollar (AUD) some weak November retail sales data yesterday saw AUD/USD back below 1.0400 but this was only temporary and we quickly moved back to 1.0430 ahead of the RBA decision today. The RBA is forecast to cut by 0.25% but this is widely publicized so the reaction should be limited. Looking ahead, RBA forecast to cut from 3.25% to 3.0%.
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