The Australian dollar is comfortably back above US74c, having had a rocket set under it by the central bank's statement on interest rates at 2.30pm Sydney time on Tuesday.
The value of lending to Australian housing investors tanked in April, according to figures released by the Australian Bureau of Statistics (ABS) earlier today.
Up to 4000 homes and 800 businesses are still threatened, but the city of Launceston, Tasmania, looks to have got through the most dangerous phase of flooding this morning.
Houses teetering on the edge of Collaroy Beach, north of Sydney, may crumble into the sea after "bangs and cracking" noises were heard following king tides last night.
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