AUD/USD turns around the earlier drop to climb to 0.7460
The low today hit 0.7411 in Asian trading, which marked the lowest level for the pair since December, but things are quickly changing now in European trading as risk sentiment is also lookin more positive for the time being.

PBOC slashes the reserve ratio requirements
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This is the first RRR cut since April last year, when the economy was hit by the pandemic and is another message by Chinese officials that they are still trying to bolster economic growth despite recent concerns that support may be lesser to come by this year.