The AUD/USD pair fell sharply below 0.6400 on Tuesday, declining by 0.82% to 0.6395 after the Reserve Bank of Australia (RBA) delivered less hawkish interest rate guidance.
AUD/USD declines by 0.82% to 0.6395 on Tuesday. The RBA's less hawkish interest rate guidance weighs heavily on the Aussie. Michele Bullock, RBA Governor, remains slightly confident that inflation will return to the bank’s 2% target. The AUD/USD pair fell sharply below 0.6400 on Tuesday, declining by 0.82% to 0.6395 after the Reserve Bank of Australia delivered less hawkish interest rate guidance.
Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar is the level of interest rates set by the Reserve Bank of Australia . Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance.
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