The Australian Dollar rebounded from session lows near 0.7040 following comments by RBA Governor Bullock.
The Australian Dollar (AUD) climbed back above 0.7050 against the US Dollar (USD) after dipping to session lows near 0.7040. The move followed the Reserve Bank of Australia’s decision to pause monetary tightening, alongside hawkish remarks from Governor Michele Bullock.
Earlier, the AUD had weakened on expectations of a policy hold, but Bullock’s comments on inflation persistence and potential future rate adjustments provided support. The pair had traded lower in the previous session amid broader USD strength.
Markets are now assessing the RBA’s stance relative to other major central banks, with focus on inflation data due later this week.