AUD/USD Around 1.0480 Before RBA Stability Review

The Australian dollar traded 0.2 percent from its highest level in two months before the central bank issues its financial stability review amid bets policy makers won’t lower benchmark rates when they meet next week.

The so-called Aussie and New Zealand’s currency rose for a second day against the yen as gains in U.S. equities spurred demand for higher-yielding assets.

“The Aussie is pushing higher because the market believes there won’t be a rate cut at the next meeting,” said Daniel Barnes, a senior market maker for currencies at City Index Group Ltd. in Sydney. “We’re waiting for the RBA’s financial stability report for an overview of how the economy is going.”


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.