AUD Soars Near Four-Year High Amid RBA's Hawkish Stance

The Australian Dollar (AUD) has risen to near its four-year high against the US Dollar (USD), trading at around 0.7230 during the European session on Wednesday.

The AUD's gain was largely driven by comments from Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser, who stressed the need to bring inflation down.

Hauser's remarks have increased expectations for central bank interest rate hikes in Australia, with Rabobank noting that a more restrictive RBA stance is increasingly aligned with US policy preferences.

Investors are also awaiting the release of the United States (US) Consumer Price Index (CPI) data on Friday, which could put pressure on the USD.