6 Apr 2015
AUD/USD retreats after fresh daily highs
FXStreet (Córdoba) - AUD/USD advanced to fresh daily highs during the American session, but gave up some ground afterward as the greenback trimmed losses across the board.
AUD/USD faltered ahead of Friday’s highs and was rejected from 0.7666 as investors remain cautious ahead of the Reserve Bank of Australia monetary policy decision. At time of writing, the pair is trading at 0.7645, still up 0.20% on the day.
The Reserve Bank of Australia is expected leave rates unchanged on Tuesday according to most recent polls, although analysts don't rule out further cuts this year in an attempt to reduce the impact of falling commodity prices.
AUD/USD has been undermined by divergent monetary policy outlooks between the RBA and the Fed, having scored a fresh 6-year low of 0.7532 last week.
AUD/USD faltered ahead of Friday’s highs and was rejected from 0.7666 as investors remain cautious ahead of the Reserve Bank of Australia monetary policy decision. At time of writing, the pair is trading at 0.7645, still up 0.20% on the day.
The Reserve Bank of Australia is expected leave rates unchanged on Tuesday according to most recent polls, although analysts don't rule out further cuts this year in an attempt to reduce the impact of falling commodity prices.
AUD/USD has been undermined by divergent monetary policy outlooks between the RBA and the Fed, having scored a fresh 6-year low of 0.7532 last week.