Australian Dollar Holds Steady Near 0.7050 After RBA Decision
AUD/USD traded in a tight 29-pip range above 0.7050 on Tuesday, showing little reaction after the Reserve Bank of Australia’s latest policy decision.
The Australian dollar was marginally firmer against the US dollar on August 11, hovering just above the 0.7050 level. Price action remained contained within a narrow 29-pip band as markets digested the Reserve Bank of Australia's policy announcement without any sharp moves.
The RBA's decision was fully anticipated, leaving the currency pair to drift in a quiet session. The central bank has now gone seven weeks without an official meeting, contributing to the lack of fresh impetus for the Aussie.
Traders will now look to broader risk sentiment and upcoming US data for the next directional cue.
Source: FXStreet Forex News