The Australian dollar hung near three-month highs on Tuesday signs of resilience in global manufacturing helped lift commodities and equities. The Australia dollar managed to hold firm at $0.9084 even though the Reserve Bank of Australia (RBA) skipped a chance to hike rates at its monthly policy meeting.
A neutrally worded policy statement did nothing to challenge market bets that rates will stay at 4.5 percent for many months to come. Three-year futures rose 0.03 points to 95.35, and ten-year futures added 0.05 points to 94.825. Implied money market rates show investors see only a 15 percent chance of a 25-basis-point rate rise in the next one year. The New Zealand dollar stood at $0.7310, off a high of $0.7345 but well up on last week's $0.7186 low.