The Australian dollar ended the session slightly lower, but got some support after the release of the central bank’s minutes of its February board meeting.
At 1700 AEDT, the local unit was trading at 100.42 US cents, down from 100.55 cents on Monday.
Since 0700 AEDT on Tuesday, the Australian dollar traded between 100.19 US cents and 100.57 US cents, according to Iress data.
The Reserve Bank of Australia (RBA) released the minutes from its February 1 board meeting that decided to keep the cash rate on hold at 4.75 per cent.
RBC senior economist Su-Lin Ong said the Australian dollar gained some ground after the release of the RBA minutes, but failed to recover overnight losses.
“The minutes were reasonably upbeat in their tone. It confirmed a lot of their key themes – above trend growth, historically high terms of trade, strong investment,” she said.
“It really confirmed that tightening bias and the likelihood of further hikes this year.
“I think it’s really going to be offshore that is going to drive the currency. Full Article…





Have you missed any of my posts from around the Net this week? Here’s a rundown:
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