Aussie weakens after SMH piece predicts rate cut

The aussie weakened for the second day running against the pound yesterday after an opinion piece in the Sydney Morning Herald argued the next Australian interest rate move will be down.

• In addition, a prediction by the World Bank that the global recession will be much deeper than previously expected also hit higher-risk currencies like the aussie.
  
• Sterling strengthened despite a fall on London equity markets yesterday, which finished down over 2.5%.