The Australian NAB business conditions index rose to a 13 level in March from an 8 print the month before. However, the business confidence component slipped back to a 16 read from 19 in February. The Australian dollar’s reaction to the mixed data has been understandably restrained as the currency has been torn between one component’s improvement and the other’s deterioration. AUD/USD has therefore only firmed by a tentative dozen pips to reach $0.9258USD versus a session high of $0.9276USD.
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