I don’t know about you, but the AUD has a heavy feel about it this morning in my opinion, (although I think it’s best to avoid trading it with the RBA decision due later). The EUR, JPY and GBP have all made small gains against the USD today as indeed have the main reegional Asian currencies, yet the AUD does seem to be struggling to hang onto its gains, which is usually a sign of weakness in a currency. The short term market has been buying back yet the Aussie isn’t rallying!
I don’t think anyone is really expecting any decision except ‘no change’ but as I mentioned earlier, perhaps longer-term bulls are afraid of a more dovish statement?
