The AUD/USD pair slides from the monthly high of 0.6800 in Monday’s European session.
AUD/USD drops from 0.6800 with Aussie inflation in focus. The monthly Australian CPI is expected to have declined to 3.4% in July from 3.8% in June. Investors see the Fed starting to reduce interest rates in September. The Aussie asset drops as the Australian Dollar weakens amid uncertainty ahead of the monthly Consumer Price Index data for July, which will be published on Wednesday. The inflation data is expected to show that the annual CPI decelerated to 3.4% from 3.
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. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down.
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