The Bank of Australia raised the interest rate on the Australian Dollar from 3.75 to 4.0 percent.
The increase was a bit of a surprise after the previous meeting’s statement. There was a significant bounce in the AUD when the announcement was made, but nothing range breaking.
The Australian Dollar has been on a solid uptrend for the past month. It appears to be taking a break, but with rate hikes coming steady, it isn’t likely that a fall will come any time soon without some type of large shock.
It appears for all intents and purposes that the recovery in Australia is real.
The increase was a bit of a surprise after the previous meeting’s statement. There was a significant bounce in the AUD when the announcement was made, but nothing range breaking.
The Australian Dollar has been on a solid uptrend for the past month. It appears to be taking a break, but with rate hikes coming steady, it isn’t likely that a fall will come any time soon without some type of large shock.
It appears for all intents and purposes that the recovery in Australia is real.
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