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The RBA left cash rate at the record low of 1.50%. However, the accompanying statement looks upbeat and the bank doesn't seem concerned with the appreciating exchange rate any more than before. They even explicitly mention that "the depreciation of the exchange rate since 2013 has also assisted the economy".
After the usual stop run on the downside, the Australian dollar shot up about 40 pips. 0.76 - 0.765 should hold, if this market is indeed bullish. 0.77 is the initial target and then the high from November near 0.7775.
After the usual stop run on the downside, the Australian dollar shot up about 40 pips. 0.76 - 0.765 should hold, if this market is indeed bullish. 0.77 is the initial target and then the high from November near 0.7775.
