Australian Dollar Slips as Wage Data Backs RBA Hold
The Australian dollar is underperforming as softer wage growth reinforces expectations that the RBA will stay on hold, according to BBH.
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Brown Brothers Harriman’s Elias Haddad notes the Australian dollar is underperforming as bond yields fall after Q2 wage growth matched expectations. The data supports a sidelined Reserve Bank of Australia.
Private sector wage gains were reported at a four-year low, reinforcing the view that the RBA has little pressure to adjust policy in the near term.
Source: FXStreet Forex News