The RBA chips in with another assist to send the aussie lower
The Australian dollar is once again struggling ahead of European trading as the RBA's statement on monetary policy saw cuts to its growth forecasts. That was enough to send the aussie lower earlier in Asian trading with AUD/USD slipping from 0.7090 levels to a low of 0.7061. The currency has recovered decently though with the pair now trading to 0.7080 now.
Other major currencies are still seen trading in a tight range for the most part with little else going on. However, the loonie is still under light pressure as oil continues to fall and a bout of risk aversion is taking over markets as we look to wrap up the week.
USD/CAD is looking to extend gains above the 1.3300 handle with the pair trading near the highs around 1.3320 as we await European traders to join in on the action.
The dollar is mixed across the board as ranges remain narrow. EUR/USD sits in a 10 pips range to start the day but sellers continue to stay in control as they look for a move towards the 1.1300 handle. The economic calendar in the European morning won't offer much to traders so trading will rely heavily on the ebb and flow in the hours ahead.
