The dollar is trading at moderately softer levels after rallying to fresh trend highs yesterday. The Aussie outperformed, logging a six-week versus the greenback, three-month highs against the yen and five month highs versus the euro. AUD-USD's high was 0.7284. Australian data were encouraging: the current account balance narrowed to A$18.2 bln from A$20.5 bln, while building approvals unexpectedly rose by 3.9% in October, up from September's 2.3%. The RBA, meanwhile, left the cash rate unchanged at 2% for the seventh consecutive time, as widely expected.
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