Tuesday, 7 June 2016

XE Market Analysis: Europe - Jun 07, 2016

Sterling rallied on new Brexit polls, which indicate a swing back of support for the Remain-in-the-EU campaign, while a backdrop of tempered Fed rate hike expectations and a consequential rally in global equity markets has seen the yen underperform. The Aussie dollar, meanwhile, bolted higher after the RBA refrained from following up last month's shock rate cut, today leaving the official cash rate at a record low of 1.75%.



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