The AUD/USD pair remains on the defensive near 0.6370 after bouncing off a fresh year-to-date (YTD) low of 0.6336.
AUD/USD softens to around 0.6370 in Thursday’s early Asian session. US CPI inflation rose to 2.7% YoY in November, as expected. The dovish RBA bets continue to undermine the Aussie. The AUD/USD pair remains on the defensive near 0.6370 after bouncing off a fresh year-to-date low of 0.6336. The dovish stance by the Reserve Bank of Australia drags the Australian Dollar lower.
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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