Citi says a cut this week is a chance to buy
Citi Research discusses AUD outlook around today's RBA policy meeting.
"AUD heads into Tuesday's RBA Board meeting near 11 year lows. Australian rates markets now discount an 80% probability of a 25bp cut to 0.75% (having lowered from 100% post last week's speech by Governor Low) and overall, now discount two 25bp cuts in total by June 2020.
"A a result, it could be a case of sell the rumor, buy the fact for AUD post a 25bp cut this week," Citi adds.
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