Quick overview of Asian market
- RBA cut rates by 25 bps as expected and maintained easing bias in statement:
- AUD/USD dipped by 10 pips before immediately rallying almost 50 pips with short-term market caught overly positioned:
- EUR/JPY had been trying to fall through the morning on lower equity markets but rebounded alongside the AUD:
- Gold falls heavily, triggering stops below $1705.