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Australian Dollar advances despite softer Aussie Retail Sales
The Australian Dollar (AUD) continues to strengthen against the US Dollar (USD) for the third consecutive session on Tuesday, despite the softer Australia's Retail Sales (MoM), which rose by 0.1% in April, reversing the previous 0.4% decline. This growth fell short of market expectations of 0.2%. The AUD's strength is also reinforced by an improved risk appetite. Furthermore, the latest Reserve Bank of Australia (RBA) meeting minutes suggested that the board found it challenging to predict future changes in the cash rate, noting that recent data increases the likelihood of inflation remaining above the 2-3% target ... (full story)