XE Market Analysis: Europe – Feb 21, 2019

The Australian Dollar dove sharply, dropping over 1% in making a six-day low at 0.7086. The pair has reversed abruptly after rallying in the wake of a much stronger than anticipated jobs report out of Australia, hit but news that China was banning Australian coal imports out of the port of Dalian and imposing a overall cap on overall Australian coal imports for 2019 at 12 mln tonnes. Coal is Australia’s biggest export.