the way the dollar got pounded overnight suggests money markets might have an inkling into a greater drop then what has been leaked to date.
banks could then drop 50 pts to consumers and hold back the other 25 pts and the Government could crow they delivered 50 pts to consumers and the banks would look at returning the other 25 pts later.
the dollar fell almost 8% overnight which makes me think something larger then 50 pts might be on the cards.
anyone else have a view?
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