The RBA droping interest rates today should put downward pressure on the exchange rate. The IO futures looking good after the slight recovery in IO price. RTA pushing along nicely with the BBJV and FMS only weeks away from the BFS. So, it appears all is moving in a postive direction for the Alliance. Very few buyers and sellers for RTA at the moment although FMS has been growing on the buy side. I guess we are at that "wait and see" moment and unlikely to see much action until rail approvals and the FMS BFS. Anyone care to forecast likely SP assuming a positive BFS from FMS in June and rail and port approvals?
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