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Forex

AUD/USD Rebounds Above 0.71 on RBA Rate Hike Expectations

Guavy AI Editorial Team
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AUD
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The Australian dollar (AUD/USD) rebounded above 0.71 after recovering from a four-week low, as expectations of further Reserve Bank of Australia (RBA) rate hikes remained high.

RBA Governor Michele Bullock warned that inflation risks are still elevated due to higher energy costs and domestic capacity pressures, signaling that interest rates may remain higher for longer.

The AUD/USD pair is currently testing short-term resistance near 0.7115-0.7120 after rebounding from intraday lows.

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