On Tuesday, the Australian dollar, paired with the US dollar, maintains a neutral stance, although the market finds this challenging. The current AUDUSD exchange rate stands at 0.6711.
January began with stress and setbacks for the AUD, primarily due to inflation statistics in Australia. The CPI slowed, fuelling speculation that the Reserve Bank might soon need to reduce borrowing costs.
The US dollar exerted additional pressure on the AUD by rapidly strengthening its position.
Currently, the Aussie’s situation has stabilised. However, opinions from leading global investment firms suggest that the AUD might face further decline.