The 70c barrier was breached today as more credibility was given to a potential interest rate cut by the RBA and doubt is cast over the longevity of high iron ore prices.

At the same time, the USD has remained strong given the Mueller report outcome, a so-far balanced US earnings reporting season, and record low US unemployment.

Still, we haven’t seen it in the 60s since 2016. The RBA’s definitely got the wobbles.

Mike.

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