The Australian dollar has lost ground from its earlier highs.
It had managed a bit of a bounce from overnight lows 9and copping a thrashing in the overnight), but more talk of rate cuts this morning have weighed on it:
- JP Morgan changes their RBA forecast - expect a cut on Tuesday
- Westpac - RBA to cut cash rate by 25bps next week and adopt an easing bias
- Deutsche Bank also reported to be calling for an RBA rate cut next week (they were calling for a cut in May and have dragged their forecast forward now)
