AUD/USD Declines to Near 0.6945 as Soft Inflation Weighs Ahead of Fed Decision
The Australian dollar weakened on Wednesday, with AUD/USD falling 0.4% to around 0.6945. Softer-than-expected domestic inflation data contributed to the decline as markets await the Federal Reserve’s policy decision.
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The AUD/USD pair slipped 0.4% to trade near 0.6945 on Wednesday, extending its recent downward move.
Weaker-than-anticipated Australian inflation data pressured the Aussie, reducing expectations for further tightening by the Reserve Bank of Australia.
Markets now focus on the upcoming Federal Reserve interest rate decision, which could drive the next move in the pair.
Source: FXStreet Forex News