AUD's appeal has been dented - Westpac

Westpac Global Strategy Group suggests that AUD's appeal has been dented.

"Iiron ore prices now down more than 16% since mid-Feb, key data points such as jobs and retailing paint a tepid growth story and the RBA’s statement betrays more concern on the labour market."

"AUD is among the best performing major currencies year to date against the USD but it looks out of whack: the currency shares the top 3 slots with the more defensive JPY and CHF while AUD’s commodity cousins NZD, NOK and CAD take the bottom 3 slots."