The Australian Dollar (AUD) tumbled against the US Dollar (USD) on Thursday despite refreshing weekly highs at 0.6634, printed losses of 0.25%.
AUD/USD recovers to 0.6571 after dipping, despite central bank actions. BoJ hikes, SNB cuts rates, and other central banks are steady. Mixed US data: manufacturing up, services, and composite PMIs down. Market eyes June Fed cut, post-steady rate projections. The Australian Dollar tumbled against the US Dollar on Thursday despite refreshing weekly highs at 0.6634, printed losses of 0.25%. However, as Friday’s Asian session begins, the AUD/USD exchanges hands at 0.
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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