Aussie trims revenues in Asia

On Tuesday, the Australian dollar trimmed earlier revenues in Asia after Australia’s major bank minutes showed inflation risks balanced, thus hinting at a steady policy stance going forward.

The currency pair AUD/USD was worth 0.7564, ascending 0.11%, while USD/JPY traded at 108.16, tumbling 0.23%.

The Reserve Bank of Australia published the minutes of its November gathering at which it left the cash rate at a record minimum of 1.50% and told that its inflation outlook is more balanced as it monitors policy at home and also abroad with an eye on trade as well as employment.

The US dollar index, estimating the greenback’s strength against a trade-weighted basket of six key currencies, edged down 0.11%, reaching 99.92, dropping below levels just above 100 achieved on Monday.

Overnight, the dollar extended revenues to hit an eleven-month peak against the other majors currencies on Monday, as upbeat sentiment over the economic implications of a Donald Trump presidency kept spurring demand for the American currency. 

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