The Australian dollar fell against its US counterpart but logged moderate gains against other most-traded rivals after the Reserve Bank of Australia released relatively upbeat minutes of the February policy meeting.
The RBA was rather optimistic in its notes, mentioning positive developments in the economies of Australia’s major trading partners, including China. With that said, the minutes also stated that “developments in China continued to be one of the main sources of uncertainty for the Australian economy.” Talking about Australia’s economy, the central bank predicted decent 3% growth for 2017.
AUD/USD dropped from 0.7687 to 0.7661 as of 11:19 GMT today. EUR/AUD declined from 1.3797 to 1.3749.
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