The AUD/USD pair holds onto gains near the round-level figure of 0.6800 in Wednesday’s European session.
AUD/USD grips gains near 0.6800 as hotter-than-expected Aussie inflation keeps hopes of RBA leaving interest rates steady this year alive. Aussie monthly CPI rose by 3.5%, remained higher than estimates of 3.4% but decelerated from the prior release of 3.8%. Investors await the Aussie Retail Sales and US core PCE inflation data for July. The Aussie asset posts a fresh seven-month high of 0.
Market sentiment – whether investors are taking on more risky assets or seeking safe-havens – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia influences the Australian Dollar by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole.
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