The AUD/USD pair trades on a stronger note near 0.6810 during the early Asian session on Friday.
AUD/USD trades firmer around 0.6810 in Friday’s early Asian session. Fed officials pencilled in more rate cuts by year-end in their latest economic projections. Investors will monitor the PBoC interest rate decision, Fed’s Harkerspeech on Friday. The uptick of the pair is bolstered by the softer US Dollar amid the prospects of further rate cuts by the US Federal Reserve this year. Later on Friday, the Fed’s Patrick Harkeris set to speak.
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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