Monexnews-Dollar rise in Australia managed to obtain the strongest weekly in 6-months ahead of the release of the minutes of the Reserve Bank of Australia's meeting on 19 March ahead, which may provide clues about why policy makers maintain interest rates unchanged for the 3rd time in a row.
While the surge in jobs is the biggest in the 13-year-old, who looks at the data last Thursday, has forced traders to trim expectations declining interest rates RBA.
"Expectations of a decline in interest rates has reduced enough RBA reference substantially, thereby triggering strong rebound on the Aussie," said Derek Mumford, a Director at Rochford Capital in Sydney. "I think the RBA will be more careful, they do not want lower interest rates too far and too fast." (vid)
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