The RBA has lifted rates from 3% to 3.25% and has warned of more to come.

Governor GlennStevens has told the media, that the global economy is resuming growth and that economic policy settings likely to remain expansionary for some time. Growth in China he says has been very strong which is having a significant impact on the region. Economic conditions in Australia have been stronger than expected and measures of confidence have recovered.

AUDUSD has jumped immediately to 8820.