A shot in the arm for China boosts the Aussie and commodities
NAB Morning Call
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The PBOC's Statements on Macro Policy Support for the Economy
Yesterday we noticed a bit of a rise in the Aussie dollar. Today it's up more even though the US dollar has been rising both days. The trend really since the end of May has been up hasn't it? So what's driving that? Well I think the number one and number two answers are China really. That do I think of the strongest indication to date that they are serious about stepping up sort of macro policy support for the economy.
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