The Australian Dollar (AUD) retreated for the third straight session on Tuesday on the back of the ongoing strengthening of the Greenback, causing AUD/USD to slip back to five-month lows in levels just below 0.6400 the figure.
AUD/USD clocked new lows in the sub-0.6400 zone. Mixed prints in the Chinese docket weighed on the AUD. Next on the downside comes the 2023 low of 0.6270. The Australia n Dollar retreated for the third straight session on Tuesday on the back of the ongoing strengthening of the Greenback, causing AUD/USD to slip back to five-month lows in levels just below 0.6400 the figure.
It's notable that the RBA, alongside the Fed, is now one of the last G10 central banks expected to consider adjusting interest rates this year. With the Fed maintaining a steadfast approach to tighter monetary policies and the potential for the RBA to embark on an easing cycle later in the year, the AUD/USD faces an increased likelihood of sustained downward pressure in both the short and medium terms.
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