Australian Dollar: In what was a very lacklustre Asian session yesterday the Aussie dollar traded sideways between 0.8860 and 0.8880 for the majority of the day as local investors searched for inspiration. After an initial dip to 0.8850 during early European trade the AUD/USD then bounced back to retest the 89 cent handle and opens this morning just shy of the mark at 0.8890. With the U.S enjoying the President’s Day holiday it was a quiet session in North America however the release of the RBA board minutes for the recent meeting where rates were left on hold and a talk by RBA assistant governor Debelle are likely to spark the Aussie dollar into action today.
- We expect a range today in the AUD/USD rate of 0.8850 to 0.8925
Tuesday, February 16, 2010
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