The AUD/USD pair falls sharply to near 0.6220 in Wednesday’s European session.
AUD/USD declines to near 0.6220 as soft Australian CPI data has boosted RBA dovish bets. Year-on-year Australian CPI rose at a slower pace of 2.4% in the last quarter of 2024. The Fed is certain to announce a pause in the current policy-easing spell.
Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar is the level of interest rates set by the Reserve Bank of Australia . Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance.
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