'Lesser risks' drive AUD to top of the........>

FOREX: 'Lesser risks' drive AUD to top of the board

-While the RBA rate decision was unchanged as expected, the board's judgement

that 'some global risks have lessened' prompted AUD buyers to come out in force,

boosting AUD/USD to the best levels since early November and now comfortably

above the $0.6818 100-dma. While the RBA are still seen as highly likely to trim

rates further in the coming quarters, expectations have pulled back slightly.

-Elsewhere, GBP trades well again, with election polls still the key driver.

This morning's Kantar poll showed the Conservatives inching ahead by another

percentage point and extending their lead over Labour to 12 points. As a result,

GBP/USD is narrowing the gap with $1.30, a level it hasn't traded above since

mid-October.

-Equities are mixed in Europe, with core continental stocks slightly higher

while the FTSE-100 underperforms on currency strength. This, and a poor

overnight JGB auction, has kept JPY under pressure from the off.

-Data releases and speakers are few and far between Tuesday, with just a

1730GMT/1230ET speech from ECB's Coeure on the docket.