The RBA kept its main rate unchanged at 1.50 %, as expected by the market. There were no surprises in the statement either, so the reaction in the Australian Dollar was muted. AUD/USD fell from 0.7680 to 0.7660, and is currently down 0.05 % on the day. The RBA warned again that a rise in the AUD could complicate economic adjustment, but the market ignored that, as usually.
NZD/USD rose to a high of 0.7310 overnight, but ran out of momentum there and fell back to 0.7285 later in the session. USD/CAD rose from 1.3110 to 1.3135, as oil prices weakened slightly.
USD/JPY rallied above 102.00 and made it to 102.40, following strong US PMI data yesterday. The pair retraced to 102.10 later in the session, but the break above 102.20 resistance suggests that further gains are ahead, with the next major resistance area now at 103.00-30.
EUR/USD traded in a 1.1195-1.1215 range overnight, while GBP/USD consolidated between 1.2815 and 1.2860. The Pound has come under pressure again, following the announcement by the UK government that it will trigger Article 50, which will start negotiations with the EU regarding the UK's exit from the union, in March of next year.
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