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Weekly Roundup: Australian dollar slides as RBA leaves rates unchanged 

Amy Richards October 9th 2023 - < 1 minute read

The Australian dollar stumbled at the start of last week’s session as weaker-than-forecast inflation data dented Reserve Bank of Australia (RBA) expectations. 

The RBA then voted to leave interest rates on hold for the fourth straight month, prompting a sharper selloff in AUD, with the currency hitting multi-week lows against some peers. 

The ‘Aussie’ attempted a recovery at the end of the week following upbeat trade data. However, the dovish RBA decision continued to hang over AUD, stifling its upside potential. 

With the conflict in Israel sparking fears of wider geopolitical tensions and a potential oil price shock, a souring market mood could weigh on the risk-sensitive ‘Aussie’ this week. 

Additionally, markets expect to see Australia’s latest consumer and business confidence indexes show a deterioration in morale. This could add to AUD’s woes. 

Written by
Amy Richards

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