Aussie holds narrow revenues after RBA board views on inflation
On Tuesday, the Australian dollar held revenues during Asia trade after Australia major bank minutes noted uncertainty in inflation predictions as market participants kept monitoring policy moves by regional major banks.
The currency pair AUD/USD traded at 0.7677, showing a 0.05% rise, while USD/JPY traded at 101.03, tumbling 0.22%.
The US dollar index, measuring the greenback’s strength against a trade-weighted basket of six currencies, sank 0.03%, trading at 95.55.
Overnight, the evergreen buck sagged on Monday as a rash of subdued economic data in Asia backed the possibility for further stimulus measures from major banks, applying downside pressure on the volatile greenback.
On Monday, traders kept monitoring global major bank activity closely ahead of next week's Jackson Hole Summit for major bankers in Wyoming.
Meanwhile, the Nikkei dropped 0.3% amid subdued economic growth in Japan during the three-month period through June, driving concerns that further stimulus plans could be forthcoming right before the end of the year.