AUDUSD is actively strengthening; market players have been buying the pair for the second day in a row.
The Australian Dollar is feeling fine against the USD. The current quote for the instrument is 0.7237.
Everybody understands that the key reason for that is the weakness of the USD.
Earlier today, the Reserve Bank of Australia published its August Monetary Policy Meeting Minutes. Not to say that investors learned something new but the document itself was pretty interesting.
For example, members of the RBA are sure that the accommodation approach to the fiscal policy should be in effect as long as it has to. At the same time, recovery of a greater part of Australia and many sectors of its economy from the coronavirus pandemic is well underway. However, this process will take more time than expected because the recent outbreak in Victoria put additional pressure on the economy
The RBA believes it will be a quite logical and right decision for the country’s government to expand stimulus package to help businesses and the population. This is particularly topical given the uncertainty with household spending also puts pressure on the economic outlook and the country’s fight against the coronavirus. However, the amount of the stimulus package will remain intact. The same can be told about the RBA’s monetary policy, which doesn’t require any revisions yet because it works as expected.
The fact that the RBA’s targets and priorities remain unchanged is a good signal for the Aussie.
Orgin: RoboForex
