AUD/USD hasn't reacted a great deal to the RBA Quarterly SoMP. We are close to session lows, but overall ranges have been tight, with the pair currently at 0.6930/35. This is in line with the USD mostly higher against the majors.

In terms of the RBA's forecast changes, the most notable came through in terms of the trimmed mean, nudged up to 6.25% y/y for end Q2 (versus 5.50% prior), end 2023 is now at 4.25%, from 3.75% prior. There was a slight downward revision to the 2024 profile for the trimmed mean.
AU bond yields are mostly lower from earlier session highs.

Bullet Markets Foreign Exchange News Homepage

Jonathan Cavenagh

Bullet Markets Foreign Exchange News Homepage

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Little Reaction To RBA SoMP