AUD/USD plummets to near 0.6700 as RBA Lowe advocates slower pace for rate hikes ahead – by Sagar_Dua24 AUDUSD Fed RBA Inflation TradeBalance
has favored for slow down the pace of hiking the Official Cash Rate . Also, the RBA policymaker sees resilience in consumer spending after remaining lower due to the higher inflation rate.
On Tuesday, the RBA announced a fourth consecutive 50 basis points rate hike and elevated the Official Cash Rate to 2.85%. Apart from that, RBA Lowe cited that the central bank sees interestIn the early Tokyo session, the asset witnessed a steep fall after the release of the Australian trade data. The commodity-linked currency reported a decline in monthly export data by 9.9% against an expansion of 5.1%. Also, imports have accelerated by 5.2% vs. 0.7% the prior release.
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