-
Australian Dollar continues to trade lower after RBA's policy decision
The Australian Dollar (AUD) continues its losses on Tuesday due to another surge in US Dollar (USD) and US Treasury yields. Additionally, the AUD/USD pair is under pressure after the interest rate decision by the Reserve Bank of Australia (RBA). Australia’s central bank maintains the status quo and keeps the current interest rate unchanged at 4.10% in the policy meeting on Tuesday, which could contribute to pressure on the Aussie pair. However, there is a likelihood of hiking rates to a peak of 4.35% by the end of this year as inflation remains above target, according to a Reuters poll. Australian Bureau of ... (full story)