Australian Dollar Continues Attempts to Rise

The Australian dollar was attempting to rise yesterday and ticked up a little today. The currency got support from the minutes of the latest monetary policy meeting released by the Reserve Bank of Australia today.

The RBA minutes were relatively hawkish, saying:

Domestically, economic activity had generally been more positive over recent months.

The central bank did not mention plans for cutting interest rates further, though a possibility of another cut certainly remains. Moreover, policy makers did not complain about the strength of the currency for a change.

All in all, the notes were very positive for the Aussie, and currency jumped after the release. The Australian dollar had hard times to outperform its US peer, which was simply too strong, but fared better against other most-traded currencies.

AUD/USD traded not far from its opening level of 0.7371 as of 3:28 GMT today. EUR/AUD slipped from 1.5026 to 1.5018. AUD/JPY edged up from 91.67 to 91.78. AUD/CAD gained from 0.9636 to 0.9656.

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