AUD Slips Despite RBA Rate Hike Amid US Dollar Strength

The Australian dollar, represented by AUD/USD, slipped despite the Reserve Bank of Australia's (RBA) decision to raise interest rates by 25 basis points to 4.60%, in line with expectations.

However, the RBA's hawkish stance was seemingly priced in ahead of the announcement, causing the Australian dollar to weaken.

The US dollar has also remained supported following recent turmoil in the bond markets, further pressuring AUD/USD.

Looking ahead, near-term volatility is expected due to upcoming data releases, including Aussie CPI, US core PCE, and jobs figures.