CBA sees risk of Aussie dropping below US60¢

News Snapshot:

While the early signs of softness in the labour market were welcome news for the central bank, it accelerated the Australian dollar’s sell-off. It also provides a new inflationary headache for the central bank given a weaker Aussie drives up the cost of imported goods. “It’s reaching a point where the Aussie dollar would be giving some discomfort to the RBA,” said BetaShares chief economist David Bassanese. “A weaker Aussie dollar is going to add to import prices which will complicate the objective of getting inflation down, but offsetting that is the fact that it’s weakening because of the worsening...