Most of today’s focus will be on the RBA although the failure to close below 1.0150 might have the bears a bit worried. If we are to see a big move pre-RBA then it’s likely to be an up-move, although I fancy we will have a few quiet hours between 1.0150 and 1.0225 at the outside. The RBA will stay on hold but it’s the statement which will be most watched for any signs of less dovish language.
