Quiet session in thin trading despite some major events throughout the day. The AUD shorts had no extra joy from the RBA Minutes (virtually unchanged) nor Guy Debelle’s comments (he stuck to the effects of Basel III), and as such the pair moved away from the day’s lows of $0.8929 towards the high of $0.8959 post the RBA minutes. Selling ensued to show that the market still has plenty of ammunition to fire into rallies, and even a post-MYEFO rally was again sold into. As of writing, the Aussie sits at $0.8942(down 6bps) – almost exactly mid-range on a tight and light day.
