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Weekly Roundup: Australian dollar slumps despite RBA rate hike 

Amy Richards November 13th 2023 - < 1 minute read

The Australian dollar slumped last week, despite another interest rate hike from the Reserve Bank of Australia (RBA). 

Although the RBA offered a hawkish outlook, markets remained unconvinced of another rate rise in the near future. 

This left the risk-sensitive ‘Aussie’ vulnerable to a sharp shift in the global market mood, with a souring sentiment weighing heavily on AUD exchange rates. 

The Australian dollar has remained muted this week, with AUD investors looking ahead to Australia’s latest employment data on Thursday. 

Any signs that the country’s labour market is cooling could further undermine RBA rate hike bets, thereby potentially sapping support for the ‘Aussie’. 

Written by
Amy Richards

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