More currency to ANZ optimism

ANZ’s belt tightening is paying off, and notwithstanding slightly lower margins the bank’s Asian progression and a boost from the falling dollar give Mike Smith good reason to smile.

The ANZ quarterly trading update is consistent with two of the main themes of the recent Commonwealth Bank results: there is still growth within a softening economy and last year’s  big drive on costs by the majors continues to flow through to their bottom lines.

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