So how do we explain the stronger Aussie this morning? Stephen Innes, a currency trader at OANDA explained:
Governor Lowe gave his first speech as the RBA Governor this morning and as expected he did not deviate from the Neutral RBA Tack and sounded rather bullish about the Economy while not overly worried on the inflation front. The Aussie dollar was largely unaffected by his speech.
With major event risk looming for the Aussie dollar, local traders were treading lightly early in the session. But given the neutral stance in the RBA Monetary Policy Minute’s coupled with some positive move in risk this morning, we could see the Aussie dollar supported throughout the session .
Also, the Aussie is picking up some tailwind from the better than expected inflation print in New Zealand this morning