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AUDNZD: How Far Can the Aussie Go Against the Kiwi?
AUDNZD was 0.45% higher on the day as the Aussie currency continued to get a boost from the Reserve Bank meeting on Tuesday. The pair is over 100 pips higher than Monday’s low. Yesterday’s RBA meeting saw the bank cutting interest rates by 0.15% as expected and also embarking on a A$100bn bond-buying program. The market had also expected the asset purchases at a level nearer A$140bn, so that maybe explains the move higher in the Aussie dollar, which was counterintuitive compared to other central bank reactions. Another boost for the Australian economy has been the first virus-free days in five months, while the ... (full story)