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Forex pairs in this Article » AUD/USD (Barcelona) - According to the NAB Analyst Team, "We favor an RBA rate cut in February, though if we have seen a further reduction in Eurozone tail risk by then and continued improvement in China and US data, this might make meeting the conditions for further rate cuts quite challenging."

At the same time, given the evident difficulty in confidently second guessing RBA actions of late and the very real prospect of an AUDUSD rate sitting above 1.0500 and rising come the December Board meeting, markets may be right to continue to ascribe a reasonable probability to a cut in December.

However, it is worth noting that "Yesterday's RBA decision and the currency reaction, coupled with the recent US Electoral outcome puts our AUD forecasts under review." the team notes.
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