Australian Dollar (AUD) continued to act as the risk currency of choice tracking stocks lower for a second day and losing ground even against the Euro with the potential for even bigger losses in the event of a market crash. The EUR/AUD and GBP/AUD has been a source of strength for the Aussie in recent weeks and if the market unwinds these trades the AUD/USD may collapse. Update Q2 CPI at 0.5% vs. 0.6% forecast Q/Q.
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