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AUD Edges Higher on Rising RBA Hike Bets

Guavy AI Editorial Team
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USD AUD
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The Australian Dollar (AUD) has edged higher above 0.7200 against the US Dollar (USD) due to rising bets on a Reserve Bank of Australia (RBA) interest rate hike.

According to the CME's FedWatch tool, traders have reduced their bets on a US rate hike at this month's meeting after Federal Reserve Governor Christopher Waller's remarks, undermining the Greenback.

The pair is now pricing in nearly a 50.2% probability of a quarter-point hike in September, down from 63.2% on Wednesday.

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