We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Wall Street
More View more
Australian Dollar Dips Against Yen Following RBA April Rate Decision

Australian Dollar Dips Against Yen Following RBA April Rate Decision

2014-04-01 05:23:00
Benjamin Du,

Talking points:

  • Aussie Dollar trades lower against the Yen after the RBA maintains cash rate at 2.50%
  • Board affirms a “period of stability in interest rates”
  • Possible top in place for the AUD/USD around the 0.9300 handle

The Australian Dollar fell against the Japanese Yen after the RBA decided to leave the cash rate unchanged at 2.50% in line with market expectations. In the accompanying statement, Governor Stevens suggested accommodative monetary policy remained necessary to support demand and repeated the bank’s view that “the most prudent course of action is likely to be a period of stability in interest rates.”

The AUD/USD had been trading near its 2014 highsahead of the rate decision, with the rise in the currency over the past few months being noted by the RBA as detracting from its efforts to achieve balanced growth in the domestic economy. Also notable was a divergence from the previous statement, acknowledging that China’s growth may have slowed in the first part of this year.

An upside surprise to the US ISM Manufacturing data due in the session ahead may help bolster demand for the greenback and in turn put pressure on the AUD/USD. Daily FX Currency Strategist Ilya Spivak has pointed to a possible top in the currency pair around the 0.9300 handle.

Australian-Dollar-Dips-Against-Yen-Following-RBA-April-Rate-Decision--_body_Picture_5.png, Australian Dollar Dips Against Yen Following RBA April Rate Decision

AUDJPY (5min Chart) – April 1, 2014 | Created with FXCM Marketscope

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.