Aussie again a big mover this morning thanks in part to the RBA, which issued its quarterly statement on monetary policy earlier today following its signal that it was moving to a neutral stance earlier this week. Aussie-dollar gained as expected, after the RBA statement, tradung a high of $0.8975 after opening at $0.8960 this morning. The move however failed to take out yesterday’s $0.8981 high and also stalled just shy of a test of $0.8900. Rumored offers above that $0.8981 high then took hold, pushing aussie-dollar back down toward $0.8960, when a wave of aussie selling interest flooded the market. That sparked talk of selling by a reserve account, and triggered a larger aussie-dollar withdrawal with crosses like aussie-yen also caught up in the move. Aussie-dollar eventually comletely reversed the morning’s gains and ended at a session low of $0.8921 before it stabilized. Aussie-dollar was last at $0.8940 as the market paused ahead of the US jobs report tonight.
