Australian Dollar Slips After RBA Holds Rate Steady; Presser Eyed
The Australian dollar weakened against the US dollar following the Reserve Bank of Australia's decision to keep interest rates unchanged. Traders now turn their attention to the post-meeting press conference for further clues.
The AUD/USD pair slid below the mid-0.7000s after the Reserve Bank of Australia (RBA) left its policy rate on hold, as widely expected. The decision removed a potential source of support for the Aussie, which had been trading around the middle of the 0.70 handle.
Market focus now shifts to the post-meeting press conference, where Governor Bullock’s remarks may shed light on the central bank’s outlook. Any hints on the timing of future easing or concerns over inflation could drive the pair’s next move.
Source: FXStreet Forex News