The AUD/USD declined by 0.21% to 0.6620 in Friday's session despite the Reserve Bank of Australia's (RBA) hawkish policy outlook.
AUD/USD continues trading close to dangerous levels near 0.6600. Aussie Dollar could benefit from the hawkish tone surrounding the RBA. The USD saw some gains due to strong sentiment data from the University of Michigan. The AUD/USD declined by 0.21% to 0.6620 in Friday's session despite the Reserve Bank of Australia's hawkish policy outlook.
Market sentiment – whether investors are taking on more risky assets or seeking safe-havens – is also a factor, with risk-on positive for AUD. 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.
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