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AUD/USD lifts following hawkish RBA hold
Earlier this morning the Reserve Bank of Australia did as the markets expected and kept their OCR on hold at 4.10%. The reaction in the markets saw the AUD/USD lift from an earlier Asian session low, at 0.6232. The high seen was set at 0.6269 and as such it has not broken any fresh ground today. The comments from the RBA suggest they are in a more hawkish position than perhaps earlier thought and that is why the AUD/USD has lifted modestly today. Analysts now view this hawkish hold as an indication that the window for more cuts from the RBA might be closing. The AUD/USD is currently trading at 0.6259
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