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The Reserve Bank of Australia expects Australia’s services exports to fall around 10% in the first quarter due to the coronavirus outbreak and subtract around 0.5% of GDP in that period, RBA Deputy Governor Debelle noted on Wednesday.

“The RBA will take account of expected fiscal stimulus in future monetary policy decisions,” Debelle added, as reported by Reuters.

AUD/USD reaction

The AUD/USD pair largely ignored these comments and was last seen trading at 0.6617, adding 0.53% on a daily basis.