The AUD/USD pair extends its downside to near 0.6355 during the early Asian session on Monday, pressured by the firmer Greenback.
AUD/USD trades in negative territory around 0.6355 in Monday’s early Asian session. The Fed is expected to cut the rate by 25 bps at its December meeting on Wednesday. The dovish stance of the RBA undermines the Aussie. Traders will keep an eye on the preliminary US December Purchasing Managers Index on Monday ahead of theFederal Reserve interest rate decision. The two-day Fed meeting ends Wednesday with an expected 25 basis points cut.
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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