The AUD rallied on Australian GDP data, which came in at +0.9% in Q1 versus the 0.7% expected. This saw AUD-USD extend the rally seen in the wake of the RBA's refrain from easing at yesterday's policy announcement, with the pair logging an eight-day high at 0.7819, breaching above both the 50- and 100-day moving averages on route. Elsewhere, the USD largely consolidated after losing ground to the JPY and the outperforming EUR. EUR-USD has traded mostly above 1.1145-50 since logging a two-week high at 1.1194 yesterday.
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