AUD Surges on RBA Hawkish Stance Amid Weaker US Data

The Australian Dollar (AUD) has risen against the US Dollar (USD) as the Reserve Bank of Australia (RBA) maintained a hawkish policy stance. In its latest statement, the RBA emphasized its readiness to tighten policy further if inflation fails to moderate as expected.

RBA Governor Michele Bullock warned that the bank would not hesitate to act if needed, underscoring the RBA's commitment to keeping inflation in check.

The AUD/USD pair has gained ground for the second consecutive day, trading around 0.7090 during Asian hours on Monday.