The Reserve Bank of Australia released the minutes of its latest policy meeting today. The Australian dollar rose against the Japanese yen after the release, but was flat against its US peer.
The minutes were rather optimistic, pointing at economic recovery in Australia and its major trading partners. Regarding the future monetary policy, the RBA said:
The Board would continue to examine the data over the period ahead to assess whether monetary policy remained appropriate, with members noting that, if the economy evolved broadly as expected, the most prudent course would likely be a period of stability in interest rates.
Concerns about a potential interest rate hike were the major reason for the previous Aussie’s weakness, and without such negative factor the currency is poised to rise higher.
AUD/USD was at 0.9037 as of 16:58 GMT today, near the opening price of 0.9031. AUD/JPY advanced from 92.03 to 92.46, rising to 92.97 intraday.
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