AUD Surges to Four-Year High Amid RBA Rate Hike Expectations

The Australian Dollar (AUD) has reached a four-year high near 0.7280 against the US Dollar (USD), thanks to remarks from Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser.

In an interview with the ABC, Hauser emphasized the need to bring down inflation, saying 'People want inflation down. People are furious about inflation. I understand why,' and adding that it's unfair, particularly for those on low incomes.

The RBA's interest rate hike expectations have increased, with Rabobank noting that Hauser's comments have markets thinking of hikes this month and in November.

The AUD/USD pair is trading at 0.7230 during the European session, with a clear short-term bullish bias, according to technical analysis.