Australian Dollar: RBA hike risks linger – OCBC
OCBC FX Strategist Sim Moh Siong and Christopher Wong note that stronger Australian Consumer Price Index (CPI) and resilient household spending have revived expectations of another Reserve Bank of Australia (RBA) hike, helping AUD/USD retest resistance near 0.7180–0.7200.
Australian FX strategists OCBC have noted that persistent inflation and robust consumer spending have reignited hopes of further Reserve Bank of Australia (RBA) rate hikes, which has pushed AUD/USD near key resistance levels. Despite remaining bullish on the Australian Dollar over the next two quarters, analysts anticipate gains will diminish as inflation nears its target and the central bank eases its restrictive policy stance.
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