6 Apr 2015
USD fights back; RBA decision a close call
FXStreet (Córdoba) - The dollar strengthened during the American afternoon, taking back most part of its nonfarm payrolls-inspired losses versus major rivals.
EUR/USD fell all the way from a daily high of 1.1035 to a low of 1.0909 after triggering stops on the break below the 1.0960/50 zone in a bout of dollar demand. GBP/USD was rejected from a high of 1.4980 and dropped more than 100 pips throughout the session to post a low of 1.4869, turning intraday negative. USD/JPY rose sharply and reached the 119.70 zone before easing slightly.
Looking into the Asian session, the Reserve Bank of Australia will decide on monetary policy. Even though the RBA is seen keeping rates unchanged, according to the latest Reuters poll, it is a close call. The split among economists is virtually 50/50.
AUD/USD has been undermined by divergent monetary policy outlooks between the RBA and the Fed and falling commodity prices, having scored a fresh 6-year low of 0.7532 last week. Today, the pair reached a high of 0.7666 but surrendered gains and is back below 0.7600 at time of writing.
EUR/USD fell all the way from a daily high of 1.1035 to a low of 1.0909 after triggering stops on the break below the 1.0960/50 zone in a bout of dollar demand. GBP/USD was rejected from a high of 1.4980 and dropped more than 100 pips throughout the session to post a low of 1.4869, turning intraday negative. USD/JPY rose sharply and reached the 119.70 zone before easing slightly.
Looking into the Asian session, the Reserve Bank of Australia will decide on monetary policy. Even though the RBA is seen keeping rates unchanged, according to the latest Reuters poll, it is a close call. The split among economists is virtually 50/50.
AUD/USD has been undermined by divergent monetary policy outlooks between the RBA and the Fed and falling commodity prices, having scored a fresh 6-year low of 0.7532 last week. Today, the pair reached a high of 0.7666 but surrendered gains and is back below 0.7600 at time of writing.