The Australian Dollar declined overnight as the RBA meeting minutes were considered rather dovish. Recent economic data out of Australia was weak too, especially the latest jobs market numbers. AUD/USD fell from 0.7735 to a low of 0.77. The pair found solid support there and bounced back to 0.7710, where it consolidated into the Sydney session close. Key support is now seen at 0.7650/60, while resistance lies at 0.7740, followed by 0.7780.
USD/JPY came under pressure in the early Asian session, falling to 112.25. However, the pair caught a bid later and recovered to 112.80. Resistance is noted at 113.00, and decent selling interest lies around 113.50.
The Pound was sold yesterday, following the news that Brexit will officially start next week. However, that was already expected and the downside momentum quickly waned. GBP/UD consolidated in a 1.2355-80 range in Asia. The focus now lies on the upcoming inflation data, which be released today at 09:30 GMT. The market is expecting an increase in the CPI numbers, from -0.5 % in January to +0.5 % in February.
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