Pressure on RBA to ease weighs on Aussie too

An Australian bank announces that as a result of stricter requirements it will raise interest rates for home loans and the FX market considers this to be the death knell of the property boom. 

Speculation that pressure is mounting on the Australian central bank (RBA) to lower interest rates once more led to slight losses for the aussie early this morning. 

For the time being the test of the 0.72 mark in AUD/USD (1.58 in EUR-AUD) seems to have failed, but tonight labour market data for September is due for publication. 

"Even a small weakness is likely to fuel rate cut speculation, despite all the optimism voiced by the RBA recently that a neutral strategy is currently appropriate", says Commerzbank.