Live: ASX to fall slightly as Australian dollar weakens after RBA rate hike
The ASX is likely to start its day flat, or even slightly lower. It comes after a weak session on Wall Street as government bond yields continued their march towards multi-decade highs. Follow live.
The ASX is expected to open marginally lower at the start of trading following a weak performance on Wall Street and a weak Australian dollar. The Australian dollar has dipped beneath 70 US cents, its lowest point in two months, following the Reserve Bank's decision to raise interest rates to a 15-year peak on Tuesday. Despite the Reserve Bank's promise to consider raising the cash rate further if necessary, the aggressive market pricing of future hikes appears to have been dampened.
Meanwhile, Wall Street concluded trading slightly down as government borrowing costs rose to fresh multi-decade highs, driven by the surge in government bond yields.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
