Higher oil prices and strong China data mid-month supported the currency and saw the AUD/USD reach a high of 0.7206 on 17 April. In contrast, a more accommodative outlook for RBA monetary policy, in combination with a weak AU CPI print on 24 April, saw the currency fall to a monthly low of 0.6988 on 25 April. Net-net, the AUD/USD ended the month at 0.7048, around ¾ cent below its 0.7123 start point. Near-term RBA cash rate expectations shifted considerably during April and was one key to volatility in AUD/USD. Early in the month (2 April) the currency dipped to 0.7086 after the RBA post-meeting statement revealed a ... (full story)