The Australian dollar came under pressure today as the Reserve Bank of Australia's Governor Glenn Stevens commented that while growth and employment were solid, inflation still remained low. His comments came while speaking at a business luncheon on Tuesday. Speculators saw the comments as a sign that the RBA could look at more rate cuts in the near term. Many economists are of the view that the RBA could cut rates again in August, which comes after the second quarter inflation report due in July. The most recent meeting minutes showed that members were divided, however. The Aussie briefly spiked after the minutes were released but started to decline steadily thereafter.
Manufacturing Remains Weak in the US
Daily Analysis - 25/05/2016