The currency has hovered around US94. 30c today ahead of the RBA's July board meeting, at which it is expected to keep rates on hold at 2. 5 per cent. "Everyone is waiting for the RBA this afternoon to see if they can set any direction for the currency," said ANZ senior FX strategist Dan Been. "We also have US payrolls on Thursday evening and typically, the Australian dollar is quiet in the lead-up to that, which is a big direction-setter for the US dollar.
Read more here: Business Spectator