AUD/USD hits hard due to US Dollar’s recovery and dismal market sentiment. Fed Kashkari sees interest rates remaining steady by the year-end. RBA Bullock doesn’t see the need to hike interest rates again. A sharp recovery in the US Dollar and weakness in the Australian Dollar due to less-hawkish interest rate guidance from the Reserve Bank of Australia after keeping them unchanged at 4.35% have weighed on the Aussie asset.
Due to the absence of top-tier United States economic data, investors will focus on speeches from policymakers: Fed Vice Chair Philip Jefferson, President of the Federal Reserve Bank of Boston Susan Collins and Fed Governor Lisa Cook to project the next move in the US Dollar. Meanwhile, the Australian Dollar remains under pressure after the RBA’s less-hawkish commentary on the interest rate outlook.
RBA Fed Yieldcurve Dollarindex
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