The AUD/USD pair rises sharply to near 0.6750 in Monday’s European session.
AUD/USD gains to near 0.6750 as Fed big rate cut bets swell. US Jon Faust showed a preference for a 50 bps rate cut on Wednesday if officials plan for the same in the last quarter. Investors expect the Australian jobless rate to have remained steady at 4.2%. The Aussie asset surges at US Dollar’ expense as the latter faces a sharp selling pressure, with investors focusing on the Fed eral Reserve’s monetary policy meeting, which is scheduled for Wednesday.
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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