The Australian dollar fluctuated today ahead of tomorrow’s policy meeting of the Reserve Bank of Australia. Today’s fundamental data was mixed, not giving the currency any particular direction to move.
The RBA is expected to keep its monetary policy unchanged and that is supportive for the currency. Today’s reports were mixed. Inflation stayed almost unchanged at 0.3 percent and the ANZ Job Advertisements fell 0.9 percent in January. Meanwhile, building approvals fell 4.4 percent in December from November, when they rose 3.4 percent. An increase by 1.1 percent was expected by analysts.
AUD/USD traded at 1.0429 as of 13:43 GMT today after opening at 1.0423. AUD/JPY rose from 96.68 to 97.05 (the highest since August 2008) before retreating to 96.57.
If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.