KVB Market Analysis | 27 August: AUD/USD Holds Below Seven-Month High Amid Divergent Central Bank Policies
The Australian Dollar (AUD) traded sideways against the US Dollar (USD) on Tuesday, staying just below the seven-month high of 0.6798 reached on Monday. The downside for the AUD/USD pair is expected to be limited due to differing policy outlooks between the Reserve Bank of Australia (RBA) and the US Federal Reserve. The RBA Minutes indicated that a rate cut is unlikely soon, and Governor Michele Bullock affirmed the central bank's readiness to raise rates again if necessary to combat inflation.
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US Dollar Steadies as May FOMC Minutes Detail “Patient” Approach
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