The AUD/USD pair trades on a stronger note around 0.6555 during the early Asian session on Monday.
AUD/USD holds positive ground near 0.6555 in Monday’s early Asian session. The US PCE inflation increases 2.5% YoY in June, underscoring an improving inflation environment. The RBA’s hawkish stance might support the Aussie. The rising bets that the US Federal Reserve would begin cutting interest rates in September weigh on the US dollar . Market participants will monitor the Australian Retail Sales on Tuesday.
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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