Daily Alert: RBA gets the memo

  • The RBA appears to have taken a leaf out the RBNZ’s book yesterday, acquiring fresh urgency to get on top of inflation
  • AUD/USD surged by roughly 1% above 0.7240 following the RBA’s policy decision but quickly pared back gains because of broad USD strength
  • In contrast, and as we flagged yesterday, the NZD/AUD has lost just under ½ a cent in the wake of the RBA surprise

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