Tuesday: AUD gains, property investors borrow more, and the Aldis price war

The Aussie dollar gains on Brexit speculation, property investors get favourable treatment and proof Aldis popularity is hurting the big guns.

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The Aussie dollar has gained overnight to just over $US0.74 after a polls reported by Bloomberg signalled the United Kingdom is likely to vote to stay in the European Union. Brits go to the polls on Thursday and commentators expect the Australian dollar could add another 2 per cent if most people want to remain in the EU.

A higher AUD is not what the Reserve Bank of Australia desires and many commentators say it needs to be closer to $US0.60 to support meaningful Australian economic growth.

The Sydney Morning Herald is reporting that many property investors are being allowed to borrow significantly more based on their income than owner-occupiers, despite a regulatory crackdown on lending, according to Macquarie Group analysts. This could be a factor supporting the property investment market.

Confirmation that choosing to shop at supermarket Aldis is delivering on price cuts across the board. This report looks at how the popularity of Aldi’s has led to unprecedented price cutting at Coles, Woolworths and IGA – and this is affecting their bottom line.

Research from the GetCreditScore.com.au has found that 40 per cent of Australians claim to making more financial mistakes before hitting 30 years of age and that these had a negative impact on their lives.

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