The big mover today was the AUD, which rallied quite strongly, first, following better-than-expected trade and retail sales data out of Australia, and then a shift in language in the RBA statement following an a widely anticipated decision to leave the cast rate at 2.0%. The Board said in its statement that "the Australian dollar is adjusting to the significant declines in key commodity prices," removing the phrase "further depreciation seems both likely and necessary," which had been a cornerstone of statements for much of the year.
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