- Australian Dollar starts selling-off on fears of a credit crunch in the Chinese property sector.
- Hawkish commentary from the Governor of the RBA, Philip Lowe, helps staunch the bleeding from China property sector woes.
- US factory gate inflation comes out higher than expected, however, supporting the US Dollar.
The Australian Dollar (AUD) edges lower against the US Dollar (USD) after selling-off during the Asian session on fears of a credit crunch in the Chinese property sector triggered by the default of a private property developer, Country Garden.
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