RBA responses coming in — Westpac says «We see a little more dovishness»

Westpac on the Australian dollar in the wake of the Reserve Bank of Australia today. saying that as long as the USD dollar avoids a sharp reversal:

  • Aussie seems likely to keep running out of steam on probes above 0.7700
  • resilient global equity sentiment should see support return into the 0.7640 area near term

On the RBA:

  • We see a little more dovishness in the extra concern on household consumption and particularly the extra paragraph on inflation
  • RBA took note of strong jobs growth
  • GDP forecast unchanged and bullish

WPAC comments via Bloomberg —ICYMi:

  • AUD/USD popping to a new session high after the RBA announcement
  • Australia — RBA announce no change to the cash rate (as expected)

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