The RBA kept rates unchanged, helping to give the aussie a mild boost
The aussie is leading gains in the currencies space after the RBA reiterated patience before moving to cut rates further, although you get a sense that the dovish bias remains in place for a potential move in April or May perhaps.
AUD/USD climbed from around 0.6690 to just above 0.6720 currently as price is challenging to move above the 100-hour moving average.
Meanwhile, the market is keeping more steady in general as virus fears are seen receding for now. Stocks are trading higher while Treasury yields are also up, with 10-year yields now higher by 3.4 bps to 1.561%.
That in turn is keeping risk in a better mood with the yen and franc the laggards as we look to begin European trading. USD/JPY is at a session high of 108.90 currently.
Looking ahead, it is still all about the risk mood considering there is little on the European morning calendar to shake things up. As such, pay attention to more headlines surrounding the coronavirus outbreak for potential shifts in the trading sentiment.
