Australia says all foreign takeovers now need FIRB approval

FIRB is the Foreign Investment Review Board

• All foreign takeovers need FIRB approval - this is a narrower scope than indicated by that headline initially (the initial statement had read all foreign investment, but that is not the case,m it applies to all foregin takovers)
• statement says the change is temporary
• the changes are not a freeze on investment

Indicative rates:

AUD/USD 0.6151

NZD/USD 0.6025