NBC Daily Forex: March 05, 2013

Published 03/06/2013, 03:04 AM
Updated 05/14/2017, 06:45 AM

Not much to feed on yesterday. Most currencies celebrated this calm by regaining some strength against the USD. Noteworthy was the drop in crude oil to $89 before again reaching a major level at $90.30.

Overnight, all eyes were on the Bank of Australia's monetary decision: as expected, no rate cut. However, the central bank said that the stable level of inflation would afford scope for rate cuts should the economy need it. Strangely, the Australian dollar appreciated on the news.

Range of the day: 1.0220 – 1.0300
<span class=USD/CAD" title="USD/CAD" width="916" height="471">

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