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Expectations of rate cuts rise, unrest in the Gulf grows

The Aussie dollar was the worst performing of the major currencies overnight, following yesterday’s unemployment numbers. Phil Dobbie asks NAB’s Alex Stanley how much this has heightened the expectations for an RBA rate cut. It’s a similar story in the US, with jobless numbers there failing to meet expectations, adding to indicators that suggest an increasing likelihood of a rate cut. But how soon? Meanwhile, two more attacks on oil tankers in the Strait of Hormuz have pushed oil prices up, with the US this time accusing Iran of the deed.

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