The AUD/USD pair surrenders a majority of its intraday gains after facing selling pressure near the intraday high of 0.6550 in Monday’s North American session.
AUD/USD gives up a majority of intraday gains while the US Dollar remains on the backfoot. The US Dollar weakened as US Trump nominated veteran hedge-fund manager Bessent as Treasury Secretary. Investors await the monthly Aussie inflation data for fresh RBA interest rate guidance. The Aussie pair drops even though the US Dollar wobbles near the intraday low, suggesting that the Australian Dollar is also performing weakly.
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.
RBA Fed Dollarindex Yieldcurve
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