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Weekly Roundup: Australian dollar down as rate hikes rattle markets

currency-newsWeekly Roundup: Australian dollar down as rate hikes rattle markets
The Australian dollar came under pressure last week, although it traded higher against its European counterparts, as concerns over rising interest rates weighed on the risk-sensitive ‘Aussie’.

Early in the week, the latest meeting minutes from the Reserve Bank of Australia (RBA) dented AUD as policymakers hinted at a slower pace of tightening.

Throughout the rest of the week, market sentiment soured. Aggressive action from the Fed and fears around Russia’s invasion of Ukraine weighed on markets, thereby pressuring the risk-linked Australian Dollar.

This week, risk appetite will likely continue to drive movement in AUD. Could the market mood recover, thereby boosting the ‘Aussie’?
Philip McHugh

Philip McHugh

Joining the corporate trading desk in 2007, Phil now over sees all of Currencies Direct’s corporate dealing activity. Having gained experience working with hundreds of businesses to optimise international payments processes and execute comprehensive risk management strategies, Phil currently works with a portfolio of corporate clients whilst managing Currencies Direct’s overall market exposure

Phil has FCA approval and has completed the Certificate in International Treasury Management (CertiTM)

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