In the aftermath of the interest rate cut by the Reserve Bank of Australia (RBA) on Tuesday, currency market participants shift their attention to the upcoming Aussie 1Q GDP report. While one might expect a central bank rate cut to weigh negatively on a country’s currency, the Australian Dollar has fared quite well against its major counterparts. The lack of AUD downside is primarily owed to markets already pricing in an RBA rate cut as near certainty prior to the RBA’s formal announcement. Follow-up commentary provided by RBA Governor Lowe sent a relatively upbeat message which downplayed the potential need for ... (full story)