The AUD/USD pair faces an intense sell-off as downbeat market sentiment has weakened the appeal of risk-perceived assets.
AUD/USD falls sharply to 0.6500 on multiple headwinds. The RBA kept interest rates unchanged at 4.35% anddeliveredneutral guidance on interest rates. Investors await the Fed’s dot plot for fresh guidance on interest rates. The Aussie asset falls to the psychological support of 0.6500 in Tuesday’s late European session as the US Dollar strengthens amid uncertainty ahead of the Federal Reserve’s monetary policy decision, which will be announced on Wednesday.
Therefore, investors will focus mainly on the release of the dot plot and economic projections. The dot plot, updated every quarter, shows interest rate projections from Fed officials for various timeframes. Meanwhile, the Australian Dollar weakens as the Reserve Bank of Australia delivers neutral guidance on the Official Cash rate after keeping it unchanged at 4.35%. RBA Governor Michele Bullock said in his policy statement that a victory on inflation cannot be announced yet.
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