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Australian dollar falls below 0.7000 after RBA rate hike
The Reserve Bank of Australia lifted its official cash rate 25 basis points to 4.60% and AUD/USD dropped toward its 200-day moving average near 0.7030.
The Australian dollar came under immediate pressure after the Reserve Bank of Australia raised its official cash rate by 25 basis points to 4.60%, its fourth interest rate increase in 2026, according to FXStreet.
FXStreet reports that even with the RBA maintaining a hawkish stance in its formal statement, AUD/USD broke below the 0.7000 psychological level and tested its 200-day moving average near 0.7030.
The move was attributed largely to remarks made by RBA Governor Michele Bullock during a press conference, where the discussion included whether to hold rates steady amid domestic housing market risks and broader global growth concerns, FXStreet said.
Strategists cited by FXStreet are now weighing whether the pullback is a temporary technical setback or signals a broader shift in the Australian dollar’s trajectory.