AUD/USD near more than 1-month highs after RBA minutes

The Australian dollar was almost unchanged against its U.S. counterpart on Tuesday, trading near a more than one-month high after the Reserve Bank of Australia said it plans to keep interest rates steady for a while.

 

 

Aussie steady, near more than 1-month highs vs. greenback

AUD/USD hit 0.9081 during late Asian trade, the pair’s highest since January 13; the pair subsequently consolidated at 0.9036, inching up 0.02%.
The pair was likely to find support at 0.8928, the low of February 13 and resistance at 0.9152, the high of December 11.
In the minutes of its February 4 meeting, the RBA said a period of steady interest rates is most likely as record-low borrowing costs and a weaker currency support growth.
On February 4, the central bank had kept the benchmark rate unchanged at 2.5%.
Meanwhile, the greenback remained under pressure after data on Friday showed that U.S. manufacturing output unexpectedly fell in January as inclement winter weather acted as a drag on growth.
The data fuelled concerns that the economic recovery has lost momentum since the end of last year as inclement winter weather weighed on growth.
The Aussie was higher against the euro, with EUR/AUD edging down 0.12% to 1.5157.
Later in the day, the U.S. was to release data on manufacturing activity in the Empire State.