The Australian dollar weakened today, though the losses were limited. The Aussie was soft following the release of monetary policy minutes that mentioned probability of an interest rate cut in the future.
The Reserve Bank of Australia released the minutes of its March policy meeting today. While the RBA members decided to keep interest rates unchanged during the gathering, they also thought that “further easing over the period ahead may be appropriate.” Prospects for another rate cut (the previous one happened just in February) made the already weak Aussie even more vulnerable.
AUD/USD traded little change at 0.7632 as of 13:38 GMT today after opening at 0.7641. AUD/JPY dropped from 92.74 to 92.56.
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