AUD/USD

Aussie Dollar Steadies Before RBA Policy Decision

Australia's dollar stayed near a three-month high with the Reserve Bank expected to resume policy tightening following a four-meeting pause.

AUD/USD was little changed at 0.6491 after touching 0.6523 on Monday, the highest since Aug. 11. A majority of forecasters see the RBA raising its policy rate to 4.35%.

The RBA is expected to hike although it's a "close call," TD Securities strategists led by Mark McCormick, wrote in a note. "We expect further upside in the Australian dollar from relative rate differentials and a China rebound".

The Bloomberg Dollar Spot Index was little changed after finishing 0.1% higher on Monday, its first gain in four sessions.

Treasury 10-year yield held steady at 4.63% after climbing seven basis points on Monday.

Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, said it's too soon to declare victory over inflation.

USD/JPY was little changed at 150.03.

Source : Bloomberg

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