FX Handover: AUD and GBP Offered In Mild Risk-Off Session

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  • RBA minutes confirmed they’re more likely to cut, sending AUD/JPY to its lowest level since January’s flash-crash.
  • House prices in Australia fell -7.4% YoY.
  • The British pound was offered on news that Philip Hammond is prepared to resign over Theresa May’s spending plans. Cable touched a fresh multi-month low.
  • Trump says immigration agency will ‘begin the process of removing millions’ of undocumented immigrants next week, just after confirming he wants to send 1,000 troops to the Middle East.
  • Japan and US are ‘likely’ to meet at the G20, according to Japan’s finance minister Aso.
  • Westpac’s measure of Australian consumer sentiment ticked lower to 103.5 for Q2 – on par with Q3 2018, which itself was a 5-year low.
  • Indices traded cautiously higher in hopes of a dovish Fed meeting tomorrow although, overall, volatility remains subdued.
  • JPY and CHF are the strongest majors, AUD and GBP are the weakest.




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