In the Asian session on Monday (June 5), the Australian dollar/dollar fell back from its highs and temporarily reported at 0.6595, a drop of 0.16%. FX Strategist Carol Kong said AUD/USD has risen above 0.6610 on the back of an aggressive repricing of RBA rate hikes and a stronger yuan.
The latest news from the Commonwealth of Australia:
AUD/USD traded around 0.6500 early last week. Australia’s Fair Work Commission announced today that wages for low-income earners will rise by 5.75%, which should not worry the RBA, but the unexpected rise in the monthly CPI indicator in April means that the Fed‘s policy meeting next week is likely to further increase. interest rate; the market is pricing in a 40% chance of a 25 basis point rate hike by the RBA next Tuesday, compared with 25% before the wage decision.
