RBA's interest rate decision buoys Aussie
The Reserve Bank of Australia's unexpected decision to raise its interest rate from 3.6% to 3.85% provided support to the Australian dollar, allowing it to strengthen despite a general reduction in investors' risk appetite. When commenting on its decision, the regulator noted that inflation is too high and that even more hawkish monetary tightening measures may be necessary to curb it. In this scenario, AUD/USD is likely to continue to rise.
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