The AUD/USD pair trades close to a six-month high at 0.6760 in Monday’s New York session.
AUD/USD holds gains near a six-month high around 0.6750 as traders raise Fed rate-cut bets. The US labor market strength appears to have lost momentum. The RBA could tighten its monetary policy further. The Aussie asset holds gains as the US Dollar is on the backfoot due to growing speculation that the Fed eral Reserve will begin reducing interest rates from the September meeting. Traders raise bets for Fed rate cuts in September as the US labor market strength appears to be moderating.
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.
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