Forex Flash: AUD supported as market prices out March RBA cut - NAB

The Aussie dollar has been trading on a firm tone, "buoyed by what the market interpreted as a less dovish tone from the RBA Board Minutes yesterday" the NAB team notes.

"In our view, the RBA remains anxious but the market pricing of only a 25% chance of a cut after the Minutes for March looks tobe pretty fair. Today, AUD starts the Asia pacific session close to the NY session highs and may draw some further support this morning if March RBA rate cut expectations recede further" the bank adds.