Forex Flash: RBA cut less likely this week - NAB

According to the latest NAB view on the upcoming RBA meeting, which shows consistency with last week's reports, "rate cut by the RBA this week is less likely" although the bank still expect more rate reduction down the road. "NAB’s view remains that more rate cuts will be needed during the course of 2013 as the boom in mining investment fades and the unemployment rate rises" the bank said.