The RBA gave aussie bulls a reason to rally last night with the decision to hold rates at 3.00%. Despite the aussie’ strength today - as long as the RBA remains dovish and keeps the market guessing at when a cut may come - the pressure on the aussie will likely remain. If you asked me in early 2013, I would have told you there were expectations of the RBA to cut up to an entire point through the year but since that was to begin in March and no cut has come, I’m looking for the some aussie bears to unwind their positions. As long as the data can support a hold on rates, the RBA does not have to act, but with the ... (full story)