The Federal Open Market Committee is widely tipped to decrease US interest rates by 25 basis points on Tuesday. There was specualtion earlier in the week that they cut would rates by 50 basis points, however the market has since dismissed this, since US Payrolls results were better than expected on Friday.
The value of the AUD has increased to highs of 0.8886 by late Tuesday afternoon on the back of the carry trades.
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