Daily Market Updates: RBA raises cash rate to 4.60%, dollar pairs swing

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RBA raises cash rate to 4.60%, dollar pairs swing

After the Reserve Bank of Australia lifted the cash rate to 4.60%, AUD/USD fell to nine-week lows below 0.7000 following cautious comments from Governor Michele Bullock.

Reported · Written up by our desk · Central Banks

Standard Chartered Global Research highlights that the Reserve Bank of Australia raised the cash rate to 4.60% in a unanimous decision, while Governor Michele Bullock’s tone was described as dovish, leaving open the possibility of further hikes if needed, according to FXStreet.

FXStreet reports AUD/USD turned lower after the central bank event, hitting nine-week lows below 0.7000 in European trading as traders digested Bullock’s remarks.

The same note says USD/JPY struggled to build on an earlier bounce from a one-week low, consolidating around 157.50 in the Asian session, as attention also remained on concerns about yen weakness.

Latest closeUSD/JPY 157.34 ▼0.1%

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FXStreetRBA seen on extended hold – Standard Chartered

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RBA raises cash rate to 4.60%, dollar pairs swing

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