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Australian Dollar: The Australian Dollar opens at US90 cents this morning after another volatile 24 hours. The Aussie hit an intraday high yesterday of 0.9090 on the back stronger gold and commodity prices before a rapid half-cent decline moments before the RBA's 2:30pm cash rate announcement. As expected, the central bank hiked rates by 25 basis points with governor Mr Glenn Stevens saying "economic conditions in Australia have been stronger than expected and measures of confidence have recovered". The currency proceeded to gyrate between a low of 0.9020 and 0.9060 during late Sydney before hitting an overnight low of 0.8915 as high-yielding currencies came under pressure once more. Today's retail sales data has implic ations for monetary policy and therefore poses some upside risk for the currency.
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