Australian Dollar: GBP/AUD Hits Fresh Highs After Core Inflation Slowdown Casts Doubt on Another RBA Hike
- Category: AUD
The Australian Dollar is lower against its major peers after Australia's quarterly inflation figures eased pressure on the Reserve Bank of Australia (RBA) to raise interest rates again.
The Pound to Australian Dollar exchange rate can undergo a decent pullback in the coming days as it corrects from heavily overbought conditions.
The sell-off in the Australian Dollar snowballed following yet another surprise interest rate cut at the People's Bank of China (PBoC) and a continuation of the 'carry trade' unwind centred on the Yen.
Falling industrial metal prices linked to disappointing policy developments in China are said to be weighing on the Australian Dollar.