The Australian Dollar (AUD) tested 1.1000 twice but failed both times and ended at day lows in moves similar to the Euro. The market is cautious of being long ahead of the RBA decision today which is expected to be hawkish given the CPI numbers last week. Overall the AUD/USD traded with a low of 1.0930 and a high of 1.1013 before closing the day at 1.0945 in the New York session. Looking ahead, RBA forecast to hold at 4.75%.
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