XE Market Analysis: Europe – Nov 03, 2015

The dollar majors remained within recent ranges while the AUD saw some chop, declining in the initial wake of the RBA’s refrain to keep interest rates unchanged, which was accompanied by a statement with both dovish and hawkish takeaways, before rebounding quite strongly. AUD-USD dipped to a 0.7113 low before about turning and clocking a one-week peak of 0.7218. Overall, the RBA’s decision not to cut, along with the generally upbeat tone on the Australian economy drove the AUD higher.