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AUD falls off highs on RBA Nov rate cut article

FXStreet (Bali) - According to AFR - Australian Financial Review -, there is now a very good chance that the RBA - Reserve Bank of Australia - will cut interest rates in November.

AUD/USD has seen a sharp decline from its 0.7350 level of acceptance down towards 0.7305 before finding dip buying interest,, to currently send quotes circa 0.7315/20.

According to AFR article - read here - , "there's a case for the RBA to cut its official cash rate even if the banks kept their mortgage rates below Westpac's, but it is dependent on macro-prudential regulation being able to keep a lid on lending to property investors in Sydney and Melbourne."

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Improving risk sentiment was the underlying theme in Asia after markets once again bought the renewed speculations surrounding delay in Fed rate hike following the latest poor US fundamentals, as good news. The entire antipodean complex rallied on their respective fundamentals while the USD/JPY is seen correcting higher around 119 handle.
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