Australian dollar defies broader risk rally as RBA cut looms
Tuesday, 2 July 2019 08:35 WIB | CURRENCIES |CurrencyDollar Australia,AussieDolar

The Australian dollar nursed wounds on Tuesday, a day after it posted its biggest one-day fall in more than two months ahead of an expected central bank easing while improved risk appetite supported the greenback.

The dollar index against a basket of six major currencies remained near its highest in a week as sentiment picked up following an agreement between the United States and China to resume talks to resolve their trade war.

In the Asian session, investor focus has shifted to the Reserve Bank of Australia (RBA), which is tipped to lower interest rates by 25 basis points to a record low of 1.00% at a meeting later on Tuesday.

The Australian dollar was little changed at $0.6965 after slumping 0.9% on Monday, its biggest decline since April 24. The Aussie could dip below $0.6950 after the RBA's decision around 04:30 GMT but would likely stabilize as traders await Lowe's comments expected 09:30 GMT, Attrill said.

Source : Reuters

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