AUD/USD rose during the Asian session and peaked at 0.7858, reaching the highest price since January 29 and then pulled back modestly. During the last hours it has remained steady trading around 0.7830, on a quiet session as traders await the US employment report.
The aussie is headed toward a weekly gain of around a hundred pips against the US dollar, as it recovers from multi-year lows that reached on Tuesday at 0.7625.
RBA and politics
During the Asian session the Reserve Bank of Australia downgraded its growth and inflation forecast in its monetary policy statement. Political uncertainty jumped in Australia after Luke Simpkins, announced that he would be moving a motion to have the leadership declared open, that could removed from office the current prime minister Tony Abbott, as early as next week.
The aussie is headed toward a weekly gain of around a hundred pips against the US dollar, as it recovers from multi-year lows that reached on Tuesday at 0.7625.
RBA and politics
During the Asian session the Reserve Bank of Australia downgraded its growth and inflation forecast in its monetary policy statement. Political uncertainty jumped in Australia after Luke Simpkins, announced that he would be moving a motion to have the leadership declared open, that could removed from office the current prime minister Tony Abbott, as early as next week.
