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Jun 18 - 02:55 AM

AUD/USD - Steady, RBA Holds Rates, Retains Hawkish Bias

By Krishna K  —  Jun 18 - 01:00 AM
  • AUD/USD unchanged in Asia; RBA holds rates at 4.35% for 5th straight meeting

  • Reiterates that it won't rule anything in or out on policy

  • Says inflation above target & persistent, labour market remains tight

  • Notes that economic activity momentum has weakened, says GDP growth slow

  • Decision, accompanying language widely expected; AUD, rates mkt little moved

  • Futures now imply a 56% probability of Dec RBA rate cut from 62% earlier

  • First 25bps rate cut now only priced in for April 2025

  • AUD rallies capped by weak CNY, JPY; higher for longer RBA supports

  • Asia range 0.6621-0.6598; support 0.6580-85, resistance 0.6625-30, 0.6650

  • Broad 0.6580-0.6710 range persists; break of either side opens 0.6550/0.6750

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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