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The policy measures to date broadly achieved the central bank’s desired mandate, the Reserve Bank of Australia’s (RBA) Head of Domestic Markets Marion Kohler said in his speech to the Australian Financial Markets Association.

Additional quotes

“Lending to small business is little changed since the onset of the pandemic.”

“Home loan applications have risen in recent months.”

“Rising level of housing loan applications consistent with large vol of refinancing activity of late.”

Market reaction

On the upbeat comments, AUD/USD is off the lows but remains heavy below 0.7300 amid unabated US dollar demand across the board. The bulls were unimpressed by the stronger-than-expected Australian employment data.

The aussie was last seen trading at 0.7281, down 0.34% on the day.