The AUD/USD pair climbs to near 0.6550 in Thursday’s European session.
AUD/USD surges to near 0.6550 as RBA Bullock prepares to hike interest rates further if needed. The Fed is expected to go aggressively on rate cuts amid fears of a potential US slowdown. Investors await the US weekly jobless claims data. The Aussie asset strengthens as Reserve Bank of Australia Governor Michelle Bullock delivers a hawkish guidance on interest rates and the US Dollar corrects on firm Fed eral Reserve rate-cut prospects.
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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