The Aussie reversed losses against the Kiwi and is trading at 1.2450. The pair reversed losses after opening at 1.2443 and posted an intraday high of 1.2468. The pair has since eased slightly.
The Aussie gained ground against most currencies following yesterday’s losses. This was due to the RBA announcement that interest rates would remain unchanged at 3.75%. While the Kiwi did gain against the USD, the rally ran out of steam as risk aversion returned. There are employment figures due out tomorrow and no greater movements are expected on the Kiwi until then.