The AUD/USD pair hovers near a fresh three-week high at 0.6640 in Wednesday’s European session.
AUD/USD refreshes a three-week high at 0.6640 with US Inflation and Aussie Employment in focus. Traders remain split over the size of the Fed interest-rate reduction in September. The RBA is expected to keep its OCR steady at 4.35% by the year-end. The Aussie asset clings to gains as the US Dollar dips ahead of the United States Consumer Price Index data for July, which will be released at 12:30 GMT.
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. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down.
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