Awaiting President Trump’s US Fed Chair pick (the favorite is Jerome Powell – a dovish Republican). Republicans want tax cuts to be phased in over 5 years. US$ has weakened. Political uncertainty in Australia expected until 2 Dec when a Bi-Election takes place for the disqualified PM Barnaby Joyce’s seat. Australia is now governed by a hung parliament. Expect AUDUSD to range 0.7550-0.7750 short term.
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