AUD review

Expectations that interest rates in Australia may soon fall from 2.25 percent caused the Aussie dollar to lose its three-month high above $0.8000. 

The case for a rate cut as soon as the RBA's May 5 meeting seems a bit stronger given the Aussie's recent gain, something the central bank has a low tolerance of given the headwind it puts on the export driven economy, and lackluster manufacturing news from China, the destination for much of Australia's resource commodities.