McCrann helps to boost Australian dollar
RBA watcher at the Australian Herald-Sun says RBA not planning to cut rate soon
A big part of the turnaround in the Australian dollar in the past 90 minutes is because of a report from RBA-watcher Terry McCrann at the Herald-Sun.
He's out with a report titled 'Despite headlines, a rate cut is not imminent'.
"The Reserve Bank did not weigh an interest-rate cut at its last policy meeting - as one online headline had it yesterday after the release of the minutes of that meeting," it says.
It's a look at the RBA minutes. McCrann lost credibility a long time ago and me and him had a little feud. Same to say I wouldn't be buying anything he's selling but that's why AUD has rebounded.