The Australian Dollar registered losses of around 0.42% against the US Dollar on Tuesday, following the Reserve Bank of Australia’s (RBA) monetary policy decision to keep rates unchanged.
AUD/USD drops 0.42% after RBA holds cash rate at 4.35%, adopting a dovish tone in its statement. Markets react quickly, adjusting to RBA 's shift from a neutral to a slightly dovish stance due to slow cooling inflation. US Dollar gains strength after Minneapolis Fed President Kashkari suggests possible rate hikes if inflation persists. The Australian Dollar registered losses of around 0.
Following the Federal Open Market Committee's decision to hold rates, the US Central Bank mentioned that risks to achieving its dual mandate on employment and inflation “moved toward better balance over the past year,” indicating that sudden weakness in the labor market could open the door to lowering rates. The lack of data releases keeps traders leaning on speeches by Fed officials.
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