AUD a winner on the session so far

While only a 20 or so point range AUD/USD is a winner on the day.

AUD crosses are up also, AUD/JPY and AUD/NZD faring well.

We have had some positive news on loosening COVID-19 restrictions in Australia's largest population state of New South Wales (home of Australia's largest city, Sydney) there has also been an underlying bid for AUD/NZD with the 'as expected' RBNZ rate hike yesterday prompting some unwind of short AUD against NZD.

I suggested earlier in this post (below) that those 'selling the fact' (the NZD) of the RBNZ decision might not want to linger on that too long given the expected pace of NZ rate hikes ahead

• Further rate hikes to come from the RBNZ, cash rate heading to 2.25% (from its current 0.5%)

while the RBA says Australia's cash rate will not be heading up until at least 2024:

• No change to RBA policy announced - as expected