Aussie Down After RBA Minutes & Oil Prices Rise

The Reserve Bank of Australia released minutes of its May policy meeting today, though they did not reveal anything particularly new. With no major news to drive the Australian dollar, the currency was moving down.

The RBA said in the notes:


The Board continued to judge that developments in the labour and housing markets warranted careful monitoring.

With uncertainties surrounding those two important sectors, the central bank had no reason to consider raising interest rates.

The Aussie rallied yesterday thanks to the rise of crude oil prices. The Australian currency had no such luck today even though crude logged gains during the current trading session as well (though not nearly as big as during the previous session).

AUD/USD slipped from 0.7410 to 0.7405 as of 13:37 GMT today after rising to 0.7435 intraday. EUR/AUD jumped from 1.4800 to 1.4930, trading near the highest level since September 16.

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