A range bound Australian Dollar (AUD) continues to bounce around levels at 0.6650, a game of two halves this week, improving to 0.6700 but unable to hold dropping back to 0.6630 Friday. Positive risk flow followed by a less than impressive US CPI read sent the Aussie higher as the fed tapered back cuts from 6 this year to 1 indicating the central bank was in no hurry to lower rates. The bank retaining its cash rate at 5.50% widely expected. Stiff support sits at 0.6600 on the chart with bullish continuation expected to continue from the low around 0.6400 mid-April.
The current interbank midrate is: AUDUSD 0.6622
The interbank range this week has been: AUDUSD 0.6573- 0.6703