The Australian dollar has copped a thrashing
Philip Lowe
Tapas Strickland  economist at the National Australia Bank  put the weakness in the Aussie down to a push-back from  RBA governor Philip Lowe  towards mounting rate hike expectations and another massive decline in iron ore markets.
âAround 0.5% of the fall occurred directly after Governor Loweâs speech â Strickland said  referring to a speech delivered by  Lowe  in Perth earlier in the session. âThe market interpreted the speech as dovish given comments that a rate rise was not imminent.â
In a Q&A session held after the conclusion of his speech   Lowe  said that official interest rates would increase for âsome timeâ.
Along with  Lowe âs speech  the Aussie was also hammered by another steep fall in iron ore markets.
Tapas Strickland  economist at the National Australia Bank  put the weakness in the Aussie down to a push-back from  RBA governor  [TGT]   towards mounting rate hike expectations and another massive decline in iron ore markets.
âAround 0.5% of the fall occurred directly after Governor Loweâs speech â Strickland said  referring to a speech delivered by  Lowe  in Perth earlier in the session. âThe market interpreted the speech as dovish given comments that a rate rise was not imminent.â
In a Q&A session held after the conclusion of his speech   Lowe  said that official interest rates would increase for âsome timeâ.
Along with  Lowe âs speech  the Aussie was also hammered by another steep fall in iron ore markets.