Morning Bid: Growth fears fade as quickly as they come
Last week's market turmoil has quickly faded into a distant memory - at least for now - after a raft of U.S. economic data this week allayed fears of a deep downturn in the world's largest economy.
The yen has, meanwhile, fallen nearly 5% from last week's seven-month peak and last stood near the 149 per dollar level. Expectations are for shoppers to have returned to the high street in July, after a sharper-than-expected fall in June. RBA Governor Michele Bullock said on Friday it was premature to be thinking about rate cuts, adding underlying inflation was too high and that the board remained focused on potential upside risks to prices.
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