AUD leads G10 on trade optimism and hawkish RBA tone – BBH

The Australian Dollar (USD) tops the G10 leaderboard as improved US-China trade prospects and RBA Governor Bullock’s hawkish remarks temper expectations of near-term easing, BBH FX analysts report.

Markets scale back RBA rate-cut bets to 25% for November

“AUD is outperforming all major currencies on favorable US-China trade developments and hawkish comments by RBA Governor Michele Bullock. Bullock stressed that Australia is in “pretty good” position on jobs and inflation, adding the RBA policy rate might not come down as far as that of other central banks. Cash rate futures trimmed RBA November 4 rate cut in half to 25%.”