Aussie heads north

On Tuesday, the Australian dollar kept gaining in Asia as current account data demonstrated a narrower than expected deficit, while the market looked ahead to the latest major bank monetary policy review with most analysts expecting the benchmark rate to stand still.

The currency pair AUD/USD traded at 0.7622, rising 0.53%, while USD/JPY was worth 103.72, ascending 0.28%.

Australia posted that the current account deficit for the second quarter was A$15.5 billion, narrower than the deficit of A$19.8 billion observed, although that’s wider than the previous reading of A$14.9 billion.

Aside from that, the Reserve Bank of Australia is expected to review its cash rate currently at a record minimum 1.50%.

The US dollar index, gauging the major American currency’s strength against six key currencies, went up 0.06%, trading at 95.80.

Overnight, the greenback trimmed losses against the other key currencies in quiet trade on Monday, through Friday’s gloomy American employment report crushed hopes for an American rate lift in the nearer future. 

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