It’s very unusual to see the AUD fall despite the 0.25% rate increase. Analysts will be busy working through the language for signs as to future action but from what I’ve seen so far, the RBA is still bullish on Australian and Asian growth, is wary of rising inflation and a housing bubble, and is also wary of international economic factors especially in Europe.
.9221 the low so far and I’d still suggest we stick with the tried and trusted .9130/.9350 range with stops outside. Play the edges and avoid trading in the middle if possible.
