Aussie Dollar Crashes Through Key Support After “Surprise” Rate Cut

– Aussie Dollar Crashes Through Key Support After “Surprise” Rate Cut:

As a major leg of many carry trades, the collapse of the Aussie Dollar in the last week has sent ripples through many risk-on positions. Following last week’s plunge in inflation to record lows, one would have assumed that expectations for a ‘stimulating’ rate-cut were baked in to some extent (as AUD plunged then), but this morning’s surprise RBA move has sparked another leg down in the commodity currency, breaking below a crucial uptrend off the January lows as the commodity currency decouples from exuberance in Chinese metals…

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