AUD/USD falls to near 0.6970 after RBA Governor Michele Bullock signals potential further rate increases despite market pressure.
AUD/USD declined 0.3% to around 0.6970 on Tuesday as the Australian Dollar faced selling pressure. Reserve Bank of Australia Governor Michele Bullock maintained a hawkish stance, keeping the possibility of additional rate hikes on the table.
The pair had previously traded higher on expectations of tighter monetary policy, but the currency failed to sustain gains. Market participants are weighing Bullock’s remarks against broader economic data and global risk sentiment.
No immediate market reaction beyond the currency move was reported, though traders remain cautious ahead of further RBA communications.