Forex: AUD/USD, new weekly lows on Fortescue announcement
Forex pairs in this Article » AUD/USD
FXstreet.com (Barcelona) - AUDUSD has been hit by yet another fresh round of selling orders, with the spot rate breaking into new weekly lows, reaching its cheapest level at 1.0226. The catalyst on the latest fall comes after Fortescue, Australia's third largest miner, announced it is cutting staff, production guidance and investment plans. Meanwhile, Rio Tinto has also reported it will cuts jobs at Argyle mines, popular due to the extraction of rare pink diamonds. Later today, the RBA will announces its rate policy decision, with consensus unanimous on a rate hold by the central bank.