AUD/USD slipping further - AUD today's biggest loser
The Australian dollar range, like other majors, has not been large.
But its standing out as the biggest loser on the session, slipping just a little more as I update.
Something not getting a lot of attention is the slowing (just a little) of the iron ore price rally. China is importing more scrap steel to diversify a touch, away from its dependence on Australian iron ore. China eased import curbs, and opened up imports of Japanese scrap metal in February. I don't have volume figures on imports of scrap so its hard to gauge the impact, but its a snippet of market chatter doing the rounds.