The AUD/USD pair declined by 0.97% to 0.6620 in Wednesday's session, driven by intensified US Dollar buying and concerns over China's stimulus measures.
AUD/USD plunges due to intensified US Dollar buying, reaching fresh lows near 0.6630. Renewed selling pressure pushes AUD/USD beneath the key 200-day SMA. Higher US Treasury yields and economic divergences favor the USD. The AUD/USD pair declined by 0.97% to 0.6620 in Wednesday's session, driven by intensified US Dollar buying and concerns over China's stimulus measures.
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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