Forex – Aussie dips slightly ahead of RBA board meeting minutes


Aussie weaker in early AsiaAussie weaker in early Asia – The Australian dollar was slightly weaker in early Asia on Tuesday with central bank minutes ahead in an otherwise light Asian data day.

AUD/USD traded at 0.7722, down 0.02%, while USD/JPY changed hands at 119.27, up 0.06% and EUR/USD was quoted flat at 1.0738.

The Reserve Bank of Australia releases April board meeting minutes at 1130 Sydney time (0130 GMT) with the focus on any signals for a widely expected rate cut in the coming months.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was quoted at 98.14, down 0.02%.

Overnight, the dollar held gains against a basket of other major currencies in subdued trade on Monday, as the greenback recovered from the previous week’s disappointing U.S. data and as trading volumes were expected to remain light with no major U.S. data to be released.

Sentiment on the dollar remained vulnerable after a recent run of soft economic data saw investors push back expectations for higher U.S. interest rates.

Markets shrugged off data on Friday showing that U.S. consumer prices were higher for a second successive month in March.

The consumer price index edged up 0.2% last month, matching a similar gain in February. On a year-over-year basis, consumer prices dipped 0.1% in March after remaining flat in February.

Core consumer prices, which exclude food and energy costs increased 0.2% in March for an annual increase of 1.8%, the largest since October.

The single currency remained under pressure amid concerns that Athens is no closer to reaching an agreement on economic reforms for baiout funds with its creditors, fuelling fears that Greece could be forced out of the euro zone.

Source By Breaking News Website | BreakingNews.WS