The continuation of the buying interest in the US Dollar (USD) sparked another negative session in AUD/USD, which flirted with four-day lows in the 0.6630-0.6625 band on Wednesday.
AUD/USD added to Tuesday’s retracement and revisited 0.6630. Another improvement in the Greenback kept the pair under pressure. Australia ’s Q1 GDP Growth Rate disappointed expectations. The continuation of the buying interest in the US Dollar sparked another negative session in AUD/USD, which flirted with four-day lows in the 0.6630-0.6625 band on Wednesday.
According to the bank’s latest Minutes, officials even discussed the potential for interest rate increases in the event that inflation picks up. Currently, money markets anticipate about 25 bps of easing by May 2025, with rate hikes still possible in August. Favouring the bank’s tight stance, the RBA's Monthly CPI Indicator rose more than expected by 3.6% in April, up from 3.5%.
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