Market is ‘disbelieving’ of any extended pause as RBA holds interest rates for July

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CommSec’s Tom Piotrowski says the market is “disbelieving” of any extended pause as the Reserve Bank of Australia held interest rates on Tuesday for July.

“The market as far as currencies is disbelieving of the potential for any extended pause because the Aussie dollar sold off quite aggressively yesterday after the pause,” he told Sky News Australia.

“But has regained all of that ground and it’s trading just short of the highs that it made overnight, just above 67 US cents, having been below 66.5 US cents overnight.”

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