The AUD/USD pair trades on a weaker note around 0.6790 during the early Asian session on Monday.
AUD/USD trades weaker near 0.6790 in Monday’s early Asian session. Fed’s Powell said 'time has come' for interest rate cuts. The RBA’s hawkish comments might capthe AUD's downside in the near term. However,the US Dollar is likely to remain under pressure after US Federal Reserve Chairman Jerome Powell’s dovish Jackson Hole speech. The US Durable Goods Orders for July are due later on Monday.
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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