The AUD/USD pair is trading on the upside the second consecutive day, despite cautious comments RBA. On Wednesday morning, the Australian dollar is rising against its US counterpart. Currently the AUD/USD pair is trading around the 0.7276 mark.
No important news from the Australian economy has been reported over the past day. However, the night before the head of the Reserve Bank of Australia Mr. Stevens, commenting on general issues, said that the movement of inflation is not any serious obstacle to lowering the interest rate, if the circumstances so require.
The Australian economy could gain some profit in the light of world tension in the military sphere. Production of ore, metals, in particular copper, the industrial sector of the economy, in theory, can count on increased demand for some goods.
The position of the central bank is as soft as possible in the current conditions - there is no pressure on the position of the Australian dollar. Potential rate reduction in general has already been included in the quotes and market forecasts. I think that it's only a matter of time.
However, keeping the cost of loans in Australia at current levels for another two or three months would give support for the "Aussie". Another question is whether the economy needs a strong AUD at the moment.
