AUD/USD up 20 pips
The Australian dollar caught a bid after the RBA decided to leave rates on hold at 0.75% and repeated that a 'gentle turning point' appears to have been reached in the economy.
The market was pricing in a miniscule chance of a surprise ease but that rises to 23% in December and nearly 50/50 in February.
The commentary suggests that officials don't want to go down that path and that they don't plan to. Lowe highlighted an extended period with rates at these levels while remaining ready to ease if downside risks materialize.
