The Australian Dollar (AUD) dropped to a fresh 2024 low of 0.6350 Monday against the US Dollar (USD) but didn’t stick around here long trading back towards 0.6530 early Tuesday. The RBA left interest rates unchanged Wednesday at 4.35% with the central bank governor Lowe rather hawkish saying there was no intention on the table of cutting interest rates in the near term. The RBA expects core inflation to remain above 3.0% for most of 2025 and reach their 2.5% target in 2026. The Aussie dollar rallied off the release pushing past support at 0.6565 to post 0.6590 this morning. Looking ahead we have US CPI Thursday next week.
The current interbank midrate is: AUDUSD 0.6584
The interbank range this week has been: AUDUSD 0.6347- 0.6594