AUD/USD flows: Dragged by PBoC's policy changes

The PBOC cut its  7-day reverse repo, 1 and 5 years loan prime rate by 10bps and announced it was lowering collateral requirements for medium term lending facility loans. It is aiming to support the sluggish economy but the Chinese equity market continue to dip for the day, suggesting it may not be sufficient to reinstate market confidence in another economic boom. 

The AUD/USD is dragged lower by 0.21% to 0.6671.