AUD lower on the session .... I'm pointing the finger at the RBA minutes
AUD/USD has not had much of a range - nothing has
But, the AUD is on its session low
I am gonna attribute the weakness to the RBA minutes (thoiugh if someone says more selling than buying I'll concede that too :-D )
My post on the minutes is here: RBA April minutes: An appreciation in AUD would slow expected inflation
What struck me was the RBA appearing a bit wobbly on its outlook for the next rate move - reckons it'll be up but that might change. That is always the case, it can change as circumstances develop .... but the bank does not often say this. Today they did.
Westpac shares the view: RBA minutes responses coming in: "Hint of Increasing Uncertainty"
Anyway, AUD lower:
Other news today has not been supportive. China GDP was in line (it usually is, suspiciously so as many often note) but the March data pointed to some concerns - IP was a miss