The AUD is trading with a slightly bid tone to it this morning as we await the RBA decision. There is talk that its a done deal and that we will see 0.25% increase in rates in a few hours. However, the risk is to the downside if RBA leaves rates on hold. In any case, offers camped between 9200-9220 should cap any rise on the day. We also have Building approvals numbers in under 15 minutes which may just throw a spanner in the works.
There are some local buyers at 9150 and some buying of AUDJPY just under 79.00. Personally, Im a seller into a rally towards 9220.
