Stock Groups

The Aussie Dollar Dives Following RBA’s More Dovish Tone -Breaking

by Mike Robinson

[ad_1]

© Reuters.

Sam Boughedda

Investing.com — TAfter the Reserve Bank of Australia adopted a more cautious tone than anticipated, the Australian dollar fell on Tuesday.

After the RBA meeting, the currency began to decline. However, it didn’t shift towards the hawkish stance many traders and analysts had expected. 

Inflation was not yet too high, according to the central bank. It did however drop a crucial bond yield target after a bond market selloff last week. The outlook for the Australian economy has been improving in recent weeks.

Also, the RBA removed earlier suggestions that rates would not rise before 2024. This suggests a more hawkish tone. It wasn’t quite as hawkish, as the market participants expected, and the RBA continued to sell off into U.S. and European sessions.

After a drop of approximately 100 pip, the U.S. pair has fallen 1.25% to the mark 0.7424 at midday.

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, futures, indexes and Forex. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]