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Why the Australian dollar rose on a dovish RBA

The Australian dollar is briefly rose above 0.6700 today after the RBA opted to leave interest rates unchanged.It's atypical for a currency to rise after a rate cut and -- as you can see from the chart -- the Australian dollar initially fell on the announcement.I think a portion of the move is a 'buy the fact' trade. The commentary from Terry McCrann certainly looked like a leak yesterday and that led to some AUD selling. The rebound may have been underpinned by short-term profit taking in a mar... Read More

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Content Topics

Australian

Dollar

Rose

Dovish

Forex

Posted: Jul 4 2023, 17:31

Author Name: forexlive

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