The Aussie finds itself former in the wake of the RBA decision overnight, where there was no surprise to see rates kept unchanged. There was a longer reference to the exchange rate in the accompanying statement, where the RBA stated that the rise in the Aussie “could complicate the adjustment underway in the economy”. This was no attempt to “talk down” the currency, hence the modest short covering after the meeting. They also made reference to the international situation, rather than domestic factors, as being the primary driver of the Aussie strength. The explicitness of the RBA’s past references to the over-valuation of the currency in their statements (going back two to three years) did not go down well with its international counterparts, hence the more measured tone this time around. It’s fair to say it was a tentative start to the week in most markets, apart from oil which finished the session near the lows, maintaining the opening gap lower. For currencies, the preference remains for a weaker dollar, with the traditional driver of policy and economic divergence not being taken as sufficient anymore for strength, especially after that story failed to lift the currency in the first quarter. Even for sterling, the price action suggested that the traditional driver of weakness year to date (the impending EU referendum) is struggling to be a continued downward force on the currency. For today, we have some further final services PMI data in the Eurozone ahead of the UK equivalent release at 08:30 GMT, with trade and ISM data following later in the US. Further reading: Flight to yen safety – Live Market Open from 7:00 GMT USD/JPY falls to the lowest since 2014 FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next UK Services PMI at 53.7 – GBP frowns Yohay Elam 7 years The Aussie finds itself former in the wake of the RBA decision overnight, where there was no surprise to see rates kept unchanged. There was a longer reference to the exchange rate in the accompanying statement, where the RBA stated that the rise in the Aussie "could complicate the adjustment underway in the economy". This was no attempt to "talk down" the currency, hence the modest short covering after the meeting. They also made reference to the international situation, rather than domestic factors, as being the primary driver of the Aussie strength. The explicitness of the RBA's past references to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.