The Australian Dollar paced higher against the US Dollar through the New York trading session overnight, benefiting from Tuesday’s Reserve Bank of Australia (RBA) rate decision. A rosy session on Wall Street helped support the risk-sensitive currency as the Dollar fell against most of its peers. The Japanese Yen, however, continued to deteriorate, with USD/JPY hitting a fresh multi-decade high. Australian bond yields rose following the RBA’s surprise decision as traders ditched bond holdings in preparation for further rate hikes this year. Analysts moved quickly to price in more aggressive rate hike bets for the July ... (full story)