The AUD/USD pair trades with mild losses around 0.6790 on Wednesday during the early Asian session.
AUD/USD edges lower to near 0.6790 in Wednesday’s early Asian session. Escalating geopolitical tensions might weigh on the pair, while the Fed rate cut bets might cap its downside. Investors will monitor the Australian monthly CPI report, which is due on Wednesday. The risk-off mood amid escalating geopolitical tensions in the Middle East weighs on riskier assets like the Australian Dollar .
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. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down.
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