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Australian dollar pairs have been boosted following an unexpected 25 basis points increase in the cash rate by the Reserve Bank of Australia.
Markets have been cautious in the early part of the week. After a big sell-off following Fed chair Powell’s hawkish speech at Jackson Hole, indices are managing to rebound slightly. However, major forex and commodities are mixed.
The recovery in equity markets is progressing well. The key difference now is that Wall Street is also playing a role in this rebound. That helps to add sustainability to the move.
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