Aussie Manages to Rebound After RBA Meeting

The Australian dollar fell today after the Reserve Bank of Australia held its monetary policy meeting, but managed to rebound later and now trades near the opening level against the Japanese yen and above the opening versus the US dollar.

The RBA kept its main interest rate at 2.5 percent today. The statement was almost unchanged from the previous one and central bank’s Governor Glenn Stevens was again complaining that the Aussie “is still uncomfortably high”. Australian retail sales grew 0.5 percent in October, while the current account deficit was at A$12.7 billion in the third quarter of 2013, a bit higher than in the previous three months.

AUD/USD was up from 0.9103 to 0.9115 as of 10:42 GMT today after slipping to 0.9056 earlier. AUD/JPY traded virtually flat at 93.69.

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