The aussie stays bid after a better-than-expected labour market report
The aussie is leading gains on the day after a more solid jobs report earlier and that has seen markets scale back on RBA rate cut expectations for February. Odds of a rate cut have been slashed from ~59% to ~44% currently and that has helped the currency to gain.
That said, one more positive data point may not mean much of a game changer to the aussie in the bigger picture but let's see how things play out in the coming weeks.
The pound continues to stay more tepid with cable just under the 1.31 handle as we look towards retail sales data as well as the BOE policy decision later today.
Other than that, the risk mood is keeping more steady to start the session and that is leaving most major currencies with little room to work with for now. The holiday period is coming up soon so that perhaps is part of the consideration as well as we look to end the week.
