The Australian dollar is falling rapidly against the US dollar. The current AUDUSD exchange rate stands at 0.6529.
Currently, the Aussie has almost reached its two-week low.
The Reserve Bank of Australia kept the interest rate unchanged at its March meeting, The indicator remained at a 12-year high of 4.35% per annum. This was the third consecutive meeting where the rate remained unchanged.
The RBA’s decision had been anticipated, yet the market interpreted it as quite unaggressive, or at least, this was the case with the accompanying statement. The Central Bank held back from repeating arguments for raising the interest rate. Investors interpreted this as a chance for monetary policy easing in 2024, as inflation in the country continues to decline.
Now, the focus of attention is shifting to the US Federal Reserve’s meeting, which starts today and ends on Wednesday night.