AUD/USD Falls Despite RBA Rate Hike

The Australian dollar slipped despite the Reserve Bank of Australia's (RBA) decision to raise interest rates by 25 basis points, bringing the cash rate to 4.60%.

The move was in line with expectations, but investors had already priced in the prospect of further monetary tightening before the announcement.

This suggests that the RBA's hawkish stance did not have a significant impact on the market, and the Australian dollar weakened following the decision.

The near-term AUD/USD outlook is subject to more volatility with key data releases, including Aussie CPI, US core PCE, and jobs data, scheduled for release in the coming days.