Lower chances of an RBA rate cut in March

FXStreet (Bali) - Following the RBA Quarterly Statement on Monetary Policy, in which no forward guidance was offered, the Australian IB is now pricing a 19% chance of March cut against the 30%+ pre-release. The change of dynamics in price action following the major reversal off 0.7630 appears to have some further legs to go, and has seen the AUD/USD appreciate 60 pips, triggering stops above 0.7850.