The Trifecta Pulling the Aussie Dollar Lower
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Wednesday 2nd August 2023
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NAB\\u2019s Rodrigo Catril says the Aussie dollar has been pulled down by three factors. First, the RBA decision to hold. Although most expected it, there was some pricing for a rise that didn\\u2019t materialise. Secondly, the US dollar is higher, on further hopes of a soft landing. US bond yields are also higher because higher than planned government borrowing will see a lot more being issued. Thirdly, China. The Caixin Manufacturing PMIs were soft, and there\\u2019s still no clear sign of an effective strategy for mitigating the country\\u2019s downturn. Cricket was not one of the reasons.
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