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Forex

AUD Holds Firm Despite Fading Rate Hike Bets

Guavy AI Editorial Team
Instruments
USD AUD
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The Australian Dollar (AUD) held firm against its US counterpart despite weak Chinese economic data and fading expectations of another interest rate hike from the Reserve Bank of Australia (RBA).

AUD/USD traded around 0.7030 on Friday, little changed on the day after reaching its highest level since mid-June.

The weak official Chinese PMI data released on Friday capped the AUD's upside potential, while the softer US Dollar limited downside pressure.

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