Australian dollar paused. Overview for 27.10.2022
The Australian dollar against its US colleague has stabilised after a wave of growth. The current quote is 0.6473.
The Reserve Bank of Australia doubts the economic perspectives due to high inflation. In a tweet posted yesterday, the RBA still expresses its resignation to keep lifting the interest rate until inflation is brought to order.
This is a positive message for the AUD. It means the financial policy will remain tight, which is good for the national currency.
With the USD being weak, the Aussie got much stronger earlier. Now the market is wondering whether the time has come for a technical pullback; strategically, however, the situation in the currency sector has not changed. Risks can become acute at any moment, and the USD has no rivals as a protective asset.
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