The Australian dollar is up a little on the session, in a small range admittedly:
A positive for it today is the easing in coronavirus fears. While new cases were reported earlier these are fewer than in the previous day, so perhaps some relief ahead. We'll see.
Another factor helping it along is a reduction in expectations for a Reserve Bank of Australia interest rate cut next week (meeting is February 4):
- Responses to the Australian CPI coming in - analysts saying RBA will delay next rate cut
- More responses to the Australian CPI data earlier today (more delays to the RBA rate cut)
As the headline says though, not everyone is in agreement with the delay, NAB and Deutsche Bank both still expect a cut next week.
Rate cut expectations have been scaled back today after the inflation data:
