RBA giving bulls a free ride, but for how long? – BBH

By FXStreet FXStreet (Guatemala) – Analysts at Brown Brothers Harriman noted that the Reserve Bank of Australia kept rates on hold today, as widely expected. This has resulted in AUD/USD climbing to two week highs.

Key Quotes:

“The statement was not particularly dovish, suggesting the bar is high to a rate cut this year. The RBA cited improvement in the labor market. Separately, Australia reported a larger-than-expected trade deficit (exports flat, imports up 1%).

This shows Australia is still struggling with the terms of trade shock. The $0.7150 area is the next major hurdle.”

Check here for recent report on AUD/USD. AUD/USD climbs to 2-week highs
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Source:: FX Street