AUD/USD HITS THREE-MONTH LOW BELOW 0.6500 AHEAD OF RBA’S DECISION
- AUD/USD stabilizes at 0.6483, rebounding from three-month low post-Powell's comments on future rate cuts.
- Powell's talk of three 2024 rate cuts, excluding March, boosts USD, affecting AUD sentiment.
- Strong ISM Services PMI and rising US Treasury yields further underpin the Dollar's strength versus the Aussie.
- Attention turns to RBA's meeting, with a dovish outlook expected due to slowing inflation.
The AUD/USD plunged to a three-month low due to hawkish comments from Federal Reserve Chair Jerome Powell and expectations of a dovish rate held by the Reserve Bank of Australia (RBA). Therefore, the hands of the major exchange at 0.6483 are virtually unchanged.
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