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The Reserve Bank of New Zealand unexpectedly cut its official cash rate by 50 basis points to 1 per cent, and the Australian dollar fell to a 10-year low of 66.77 US cents. The move surprised economists, most of whom had expected a 25-basis-point cut.
A sharp drop in the Aussie dollar makes Australian grain, barley and meal exports cheaper for buyers, which can pressure world feed prices.
abc.net.auMichael JandaAug 7, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
