Persevering downward pressure on the US Dollar (USD) bolstered the recovery in risk-associated assets, driving AUD/USD to reclaim levels above 0.6600 on Tuesday.
AUD/USD added to Monday’s gains above 0.6600. The weaker Dollar favoured extra gains in the pair. The constructive tone in spot should remain while above the 200-day SMA. Persevering downward pressure on the US Dollar bolstered the recovery in risk-associated assets, driving AUD/USD to reclaim levels above 0.6600 on Tuesday.
Nevertheless, the bank anticipates inflation to converge back to the target range of 2%–3% by the latter part of 2025, reaching the midpoint by 2026. During the subsequent press briefing, Governor Michele Bullock maintained a balanced perspective. Regarding interest rates, she hinted at the board's contemplation of potential rate adjustments at the current meeting, stating, "we might have to raise, we might not.
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