Aussie tanking ahead of RBA on broad USD strength

FXstreet.com (Barcelona) - Few minutes away from RBA meeting minutes at 01:30 GMT, the AUD/USD is currently tanking to fresh session lows at 0.9764 from above 0.9800 levels at early Asia-Pacific trade, on the back of broad USD strength, following Japan Econ Min Amari comments, again on the Yen.

The Aussie had just posted fresh weekly and session highs at 0.9826 on the back of broad USD weakness, now reversed after Amari's softening comments today of those made yesterday, that took USD/JPY down to fresh weekly lows below the 102 level. Now the USD/JPY is back above the 102.70 mark, while Aussie keeps pushing the sell pedal down to 0.9764 last.

May 21, 2013

USD/JPY buyers continue to support the 102.00 area

The USD/JPY has started the weak off on a soft note, finishing the day down 71 pips at 102.25 but again holding support near the 102.00 level which continues to be an area of steady demand the past four trading days.

RBA minutes keeps dovish tone

Minutes of the monetary policy meetings of the Reserve Bank Board from last May, when rates were cut by an additional 0.25 bp to 2.75%, have been published. In summary, there was nothing new on the report that the market didn't know already, thus the first quarter CAPEX figures remain critical for the June policy meeting decision.