AUSTRALIAN DOLLAR PRICE FORECAST: AUSSIE UP AS RBA KEEPS ITS HAWKISH TONE
- AUD/USD extended its recovery, rising near 0.6580.
- RBA doubled down on its hawkish rhetoric on Thursday.
- Commodity prices are also providing the AUD with traction.
The AUD/USD pair recorded an upturn at 0.6580 during Thursday's sessions, a notable rise by 0.80%. The uplift is linked to a mix of the Reserve Bank of Australia's (RBA) recent echo of their hawkish tone and an increase in commodity prices, hence making the Australian Dollar an eminent performer.
Due to the mixed Australian economic outlook and the RBA’s hawkish stance, markets are now pricing just 25 bps of easing in 2024.
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