Wednesday saw another daily advance in the US Dollar (USD), causing AUD/USD to add to Tuesday’s corrective decline and revisit four-day lows near 0.6560.
AUD/USD added to recent losses after faltering near 0.6650. Strong Dollar and weak commodities weighed on AUD. The RBA sees inflation hitting the target in H2 2025. Wednesday saw another daily advance in the US Dollar , causing AUD/USD to add to Tuesday’s corrective decline and revisit four-day lows near 0.6560.
During her subsequent press conference, Governor Michele Bullock maintained a balanced tone. Regarding rates, she mentioned that we might have to raise, we might not, indicating the board's contemplation of rate hikes at this meeting. Currently, the swaps market has largely discounted any further rate hikes over the next six months, with a decrease priced in for the subsequent six months.
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