The dollar has traded mixed so far today, losing ground to the commodity currencies and sterling, gaining versus the yen, and treading a narrow range against the euro. Brent crude also logged a new seven-month peak, at $50.94. The Aussie dollar outperformed, gaining over 1% against the U.S. dollar in making a one-month high at 0.7450. Aside from a risk-on backdrop, the currency rallied at the prompt of the RBA's refrain today from following up last month's shock rate cut, leaving the official cash rate at a record low of 1.75%.
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