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AUD/USD surges to 12-day high as RBA’s Lowe expects infrastructure investment to benefit the economy
Even after continues to highlighting global growth risks and rate cut forecasts, the RBA Governor’s expectations of the likely increase in infrastructure to benefit Australian economy helped the AUD/USD pair as it rises to the 12-day high of 0.6950 during early Monday. While the sustained weakness of the US Dollar (USD) helped the Aussie to carry its previous strength forward, recent comments from the Reserve Bank of Australia (RBA) Governor Philip Lowe helped the quote rise further. RBA’s Lowe cited downside risks to the global economic outlook but also said that the macro growth is still reasonable. He also ... (full story)