The mild rebound in the US Dollar (USD) sparked some renewed selling bias in broad risky assets, motivating AUD/USD to return to the negative zone after hitting fresh four-month peaks just above the 0.6700 barrier on Thursday.
AUD/USD rose to four-month highs beyond 0.6700. The rebound in the Dollar weighed on the pair. The Australia n labour market report came in mixed in April. The mild rebound in the US Dollar sparked some renewed selling bias in broad risky assets, motivating AUD/USD to return to the negative zone after hitting fresh four-month peaks just above the 0.6700 barrier on Thursday.
The RBA's economic projections foresee elevated inflation rates until Q2 2025, driven by service price inflation, with an eventual return to the 2%–3% target range by late 2025, reaching the midpoint by 2026. During the subsequent press briefing, Governor Michele Bullock adopted a balanced stance, suggesting potential rate adjustments but without a definitive commitment.
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