Aussie rallies after RBA holds rates, Euro steady after EU leaders meet on Greece
AUD/USD rallied after the Reserve Bank of Australia held the benchmark interest rate unchanged at 2%. The pair opened in Asia at 0.7606 and edged up slightly throughout the session before surging to 0.7691 post-RBA. The RBA however left the door open for more rate cuts but data is dependent.
USD/JPY rose up another leg up to break the 125.00 level and hit a fresh 12-year high of 125.04 in late Asian session trading. EUR/JPY did not see the same direction and edged lower after hitting a high of 136.52 before falling to 136.09 as EUR is under pressure by Greece concerns. AUD/JPY traded from 94.81 to 95.75.
EUR/USD traded a range between 1.0915-35. The market is waiting for news out of a summit last night in Berlin to discuss about Greece. The German chancellor Angela Merkel met France’s president, François Hollande, and the president of the European commission, Jean-Claude Juncker, who were joined by ECB Chief Mario Draghi, and Christine Lagarde, the head of the International Monetary Fund.
EUR/GBP saw sideways action between 0.7185-89.
EUR/CHF edged lower from 1.0345 to 1.0322.
GBP/USD was steady but traded a very tight range in the Asian session, between 1.5195-1.5212. The pair was in consolidation after push down to 1.5170.
USD/CHF was steady, trading between 0.9407-30. There was caution in this pair after SNB Chair Jordan threatened intervention again over weekend.
NZD/USD traded lackluster, between 0.7093-0.7113 pre-RBA, but the bias is up. The pair then rallied to 0.7122 as AUD rallied post-RBA.
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