The RBA has clearly indicated that interests rates will be cut tomorrow. One consequence of an interest rate cut will be a decrease in the value of the $Aus.
If I was an overseas holder of OZL I would bring forward any intention to sell.
If I was a large overseas 'hedge fund' then I would sell today (and possibly buy back tomorrow; the copper price has gone up.
The RBA should know better than to 'signal' any change in interest rates.
My statements are just conjecture; as Mx would say DYOResearch. HC42
OZL Price at posting:
$9.30 Sentiment: None Disclosure: Held
