The Euro was unable to sustain a recovery attempt on Tuesday and came under fresh selling pressure as the dollar gained renewed support after stronger than expected data.
The Australian Reserve Bank interest rate decision was one of the least contentious in recent memory with interest rates on hold at 2.50% and the bank not making any major comments on the Australian dollar’s value. AUD/USD initially moved higher to the 0.9340 area, but was unable to break above 0.9350 which triggered profit taking on longs. Read the rest of this entry »