Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Aussie tacks on as RBA holds
On Tuesday, the Australian dollar held revenues in Asia just a few ticks above 0.80 versus the US currency even as the major bank warned Australia’s currency turned to be a factor in interest rate views.
Assessing the greenback’s value versus a trade-weighted basket of six crucial currencies, the US dollar index gained 0.06% sticking to 92.73.
The currency pair AUD/USD rallied 0.36% showing an outcome of 0.8032. Meanwhile, the currency pair USD/JPY demonstrated 110.20, descending 0.05%.
The Reserve Bank of Australia didn’t change its interest rates, leaving them intact at a record minimum 1.5% just as expected on Tuesday, hinting at the potential impact of a strengthening Australian dollar.
Overnight, the evergreen buck languished at more than 14-month minimums versus a basket of global currencies because investors kept betting against the American currency after a mixed pair of economic reports put pressure on market sentiment.
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