This market is disappointing more than England
The Australian and Canadian dollars are down more than 1% and now the New Zealand dollar has broken below 0.70.
A full-on flight to safety is beginning to emerge.
Technically AUD/USD looks to be in a tough spot as it sinks below the recent lows with little support until 0.7200.
If a less-dovish RBA and a good jobs report can't help the Australian dollar, then it could be a long fall from here. At the moment, however, all correlations are going to 1 and it's a risk-on/risk-off trade