AUD/USD Higher

The Reserve Bank of Australia (RBA) kept rates at 2.25 % Monday. The bank said inflation is likely to remains at target levels even with the lower Australian Dollar. The bank said domestic demand growth was weak and said a further fall in the currency was needed to balance growth. The comments were pretty much as expected. The AUD/USD is trading at 0.7803, up 0.0049. Trading has been range-bound after a sharp move higher when no rate change was announced Monday evening.