Australian Dollar Holds Steady after RBA Minutes
The Australian Dollar was little changed following the release of the Reserve Bank of Australia’s Minutes to the February meeting. The central bank continued to strike a neutral tone, with strong expansion in the resource sector and improvement in the condition of the global economy offset by spending restraint on the part of consumers.
Importantly, the RBA sees underlying inflation in the lower half of the target range (2 to 3 percent) at year-end. All things considered, the central bank saw a slightly restrictive monetary policy as appropriate, indicating that members are comfortable with rates where they are now.
AUD/USD Intraday Chart:
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