The Australian dollar nursed wounds on Tuesday, a day after it posted its bigges...
TOKYO - The Australian dollar nursed wounds on Tuesday, a day after it posted its biggest one-day fall in more than two months ahead of an expected central bank easing while improved risk appetite supported the greenback.The dollar index against a basket of six major currencies remained near its highest in a week as sentiment picked up following an agreement between the United States and China to resume talks to resolve their trade war.
In the Asian session, investor focus has shifted to the Reserve Bank of Australia , which is tipped to lower interest rates by 25 basis points to a record low of 1.00% at a meeting later on Tuesday. “Lowe is speaking in Darwin, and that is really where the market will be looking for clues... but our view is we will get at least one more follow-up cut,” said Ray Attrill, head of FX strategy at National Australia Bank in Sydney.
The U.S. dollar index .DXY was up 0.5% at 96.809 on Tuesday, having posted its biggest gain since March 7 on Monday, bolstered by optimism over U.S.-China trade talks.
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