Home›Forex›Major Pairs›AUD rises after RBA keeps rates steady, MUFG expects s…

AUD rises after RBA keeps rates steady, MUFG expects steady gains

MUFG expects AUD/USD to grind higher, citing risk sentiment, expectations for Fed cuts, and a weaker US dollar.

Reported · Written up by our desk · Major Pairs

The Reserve Bank of Australia held its policy rate at 4.35% in a unanimous decision, a move that initially weighed on AUD/USD but later failed to hold the decline, according to FXStreet.

FXStreet said Governor Bullock reiterated hawkish concerns about inflation, helping the Australian dollar rebound after the statement.

MUFG, as cited by FXStreet, expects AUD/USD to move gradually above 0.70, driven mainly by risk sentiment, expectations for Fed rate cuts, and a weaker dollar.

More like this

Sources