![]() ![]() Apart from this, worries about a possible global recession continued weighing on investors' sentiment and undermined the risk-sensitive aussie. This could give the Reserve Bank of Australia some breathing space for gradual rate hikes, which dragged the Australian bond yields lower. Furthermore, the yearly rate also fell short of market expectations and eased to 6.1%. The Australian dollar weakened a bit following the release of the domestic inflation report, which showed the headline CPI decelerated to 1.8% during the second quarter. The AUD/USD pair edged lower during the Asian session on Wednesday and moved further away from over a one-month high, around the 0.6980-0.6985 area touched the previous day. Traders now seemed reluctant and moved to the sidelines ahead of the key FOMC policy decision.The Australian CPI report gave the RBA some breathing space and exerted pressure on the aussie.AUD/USD witnessed some selling on Wednesday, though modest USD weakness helped limit losses. ![]()
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