BUZZ-Australian banks at near 2-month low on repriced Fed rate cut bets

Reuters04-16

** Australian banks slide 2% to this their lowest since Feb. 22

** AXFJ is the top loser among all indexes and on track for its fifth straight day of losses, cutting YTD gains to 5.6%

** ASX 200 down 1.9% on the day, chopping YTD gains to a mere 0.1%

** Commonwealth Bank of Australia slumps as much 2% to A$112.39, lowest level since Feb. 14

** National Australia Bank , ANZ and Westpac lose up to 2% each

** Strong US economic data prompts investors to tone down their Fed rate cuts expectations

** Still, UBS says Aussie banks are set to deliver on their H1 expectations when they begin reporting results this week

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com; Twitter: ))

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