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Australian Dollar Falls Ahead Of RBA Monetary Policy Decision
(RTTNews) - At 10:30 pm in the early Asian session on Tuesday, the Reserve Bank of Australia will announce its decision on interest rates at the monetary policy meeting. The RBA is expected to hike its benchmark lending rate by 25 basis points, to 4.35 percent from 4.10 percent.
Ahead of the RBA rate decision, the Australian dollar fell against its major rivals.
As of 10:25 pm ET, the Australian dollar was trading at 0.6484 against the U.S. dollar, 97.34 against the yen, 1.6518 against the euro and 1.0887 against the NZ dollar.
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The U.S. dollar strengthened against other major currencies in the Asian session on Wednesday.
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Antipodean Currencies Slide Amid Risk-off Mood
The antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Tuesday amid rising risk-off mood, as traders remain cautious amid uncertainty after U.S. President Donald Trump decided to postpone the implementation of 50% tariffs on the European Union goods to July 9 from June 1. The UK and US stock markets were shut for a holiday.
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