AUD/USD up 85 pips since the RBA decision:
The Australian dollar is in the midst of its best day in four weeks in the fifth consecutive day of gains.
AUD/USD is trading at a session high at 0.7166, up 85 pips on the day with the vast bulk of it coming in US trading. The pair initially jumped 40 pips on the RBA decision but consolidated afterwards.
Earlier today, the RBA held rates at 2.00% and the statement remained relatively upbeat as Stevens said information "suggests that moderate expansion in the economy continues" and "has been accompanied with somewhat stronger growth of employment."
The market was looking for a more dovish tone but policymakers stuck to a wait-and-see, neutral statement. The market had been 50/50 on a December rate cut but that's fallen to below 40%.
Eamonn had an excellent rundown of RBA reactions earlier.
