AUD Rallies as RBA Holds Off On Rate Cuts - Forex News by FX Leaders

AUD Rallies as RBA Holds Off On Rate Cuts

Posted Tuesday, May 7, 2019 by
Arslan Butt • 1 min read

AUD/USD had a good day today after the RBA announced its decision to hold interest rates at 1.5%. Market analysts were expecting a rate cut, but the hawkish outlook of the central bank caused Australian dollar to rally up to 0.8% against the US dollar.

While several central banks around the world turned dovish since the beginning of this year, RBA’s decision to hold off on rate cuts was a refreshing change. However, the bank has cautioned that it could consider cutting rates in the future if employment doesn’t get better.

At the time of writing, AUD/USD is trading at around 0.7018, lower than today’s highs of 0.7048.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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