Although the RBA governor signalled that rate cuts are off the table, market participants continue to believe that the central bank will cut the interest rate, possibly in March. On the other hand, the Fed is expected to deliver the first rate hike in June 2015. This divergence in monetary policy should continue to weigh on the Aussie. In terms of levels, key support can be found around 0.8110. A break there would open a door to 0.7700.
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