Traders noted very heavy sales from a high profile US investment bank overnight in the run up to the RBA meeting this even. AUD was unable to overcome 0.9750 again overnight so some position trimming ahead of the RBA meeting makes sense. Dealers see the odds of an additional hike as a 50/50 proposition.
AUD/USD has steadied since dipping as low as 0.9654 earlier. Large bids are now seen until down to the 0.9610/20 area, dealers report. Offers are seen on rallies to 0.9690/00 early in the day. We trade now at 0.9682.
