The AUD/USD pair catches fresh bids during the early part of the European session and climbs back closer to a two-and-half-week top touched on Friday.
AUD/USD regains positive traction and climbs back closer to a multi-week top touched on Friday. The RBA ’s hawkish stance and a positive risk tone turn out to be key factors benefiting the Aussie. China’s economic woes could act as a headwind ahead of the US inflation figures later this week. Spot prices currently trade around the 0.6600 round-figure mark, with bulls looking to build on the momentum beyond the technically significant 200-day Simple Moving Average .
to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people.” Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will strengthen the Australian Dollar and vice versa. Other RBA tools include quantitative easing and tightening.
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