At the balance, AUD/USD is flat at 0.6355 but off its earlier low of 0.6335 on the day. Instead, AUD/NZD is the one seeing stronger flows with a bounce from 1.1100 to 1.1140 in the aftermath of the RBA. That erases the drop from Friday and yesterday for the pair.
After a break yesterday, 10-year yields in the US are higher by nearly 4 bps to 4.515% currently. That's helping to prop up USD/JPY as well, with the pair up 0.4% to just above 152.00 now.
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EUR/USD, GBP/USD, and AUD/USD are all still holding above the 100 and 200-hour moving averages while USD/JPY, USD/CAD, and USD/CHF are also keeping below their 100 and 200-hour moving averages respectively. All of that suggests the near-term bias is still siding with dollar sellers for now.
Coming up in European trading, we do have some economic data points to move things along. The UK labour market report is one to watch out for, before moving on to the final French inflation numbers for January and the German ZEW business survey findings.
This article was written by Justin Low at www.forexlive.com. Read More Details
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