Dollar index is testing 97.5. Market sentiment sounds quite bullish? Good to Aussie

Dollar index is testing 97.5. Market sentiment sounds quite bullish? Good to Aussie
Dollar index is testing 97.5. Market sentiment sounds quite bullish? Good to Aussie

The Reserve Bank of Australia kept its monetary policy unchanged as expected. RBA said that the extent of the pandemic driven economic downturn may be not as severe as expected.

Aussie stands at 0.68 level above against dollar in the European session on Tuesday.

Risk appetite maintained due to the hopes of global economy reopening, further dragging down the safe-haven dollar.

RMB is trading higher, which also boost up the Aussie. Although there is growing concerns over US-China tension, the lack of substantial details about the US actions eases the sell-off pressure of the RMB.