Aussie Gives Up Two-Month High After RBA Rate Cut And What It Means For The Currency
The Australian dollar (AUD) surrendered its two-month high following the Reserve Bank of Australia’s (RBA) surprise interest rate cut, sending the currency lower against major global peers. The rate cut, aimed at stimulating economic growth and addressing subdued inflationary pressures, has led to shifts in investor sentiment, triggering a pullback in the Aussie’s recent rally.
