Australian Dollar (AUD) the AUD/USD fell sharply to 1.0525 on AUD/JPY selling in Asia before finding support and closing at familiar levels near 1.0560. EUR/AUD is taking advantage of the Euro weakness so far this week falling from 1.2700 to 1.2570. The RBA has less pressure on them to cut given the recent turnaround in China’s economy and the effect this will have on the Australian mining boom. No economic data Wednesday.
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