Dollar keeps to tight ranges, Aussie in focus ahead of RBA decision
TOKYO - The Australian dollar sharply rose on Tuesday after the country’s central bank held rates at a record low, dashing speculation it may ease policy following a below-par reading of inflation.
While the RBA kept policy unchanged, it opened the door wider for future cuts if the jobs market failed to push unemployment lower as retailers suffered their worst quarter in seven years.Elsewhere in currency markets, the dollar kept largely to familiar ranges against major peers, even as comments from top U.S. trade officials that China had moved away from trade-related commitments weighed on U.S. bond yields and stock futures.
While there had been talk that Washington and Beijing might reach a trade deal this week, it is likely the negotiations will take a bit more time, he added. Futures for the S&P 500 fell following the remarks. U.S. 10-year Treasury bond yields hit their lowest since May 1.
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