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RBA keeps rates on hold at 4.35%- AUD/USD falls

The Reserve Bank of Australia (RBA) has just done exactly as the markets expected and left their OCR unchanged at 4.35%. The AUD/USD has fallen on the news and dropped from earlier highs above 0.6640, to test 0.6600. The RBA has refused to rule out any action in the months ahead and also raised their CPI target from 3.2% to 3.8%. The AUD/USD closed in the US last night at 0.6625. It is currently trading at 0.6598

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