On Wednesday, the late rebound of the US dollar (USD) motivated the risk-associated assets to fade initial gains, forcing AUD/USD to retreat from earlier peaks north of the 0.6900 hurdle, a region last visited in late February 2023.
AUD/USD clinched fresh tops beyond the 0.6900 barrier. The Dollar’s late rebound prompted AUD to give away initial gains. The RBA ’s Monthly CPI Indicator eased to 2.7% in August. On Wednesday, the late rebound of the US dollar motivated the risk-associated assets to fade initial gains, forcing AUD/USD to retreat from earlier peaks north of the 0.6900 hurdle, a region last visited in late February 2023.
Meanwhile, the RBA could be among the last G10 central banks to begin cutting rates. It is expected to join the global easing cycle later this year, as weak underlying economic activity points to lower inflation pressures. Looking ahead, with the Federal Reserve's anticipated rate cuts largely factored in and the RBA likely to keep a restrictive stance for some time, the AUD/USD may see further improvement later this year.
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