Aussie Slides to Two-Month Lows Ahead of Expected RBA Hike

The Australian dollar is trading at two-month lows ahead of the Reserve Bank of Australia's (RBA) decision to raise interest rates, which is expected by all 43 economists surveyed by Bloomberg last week.

The RBA Governor Michelle Bullock warned that inflation remains too high and risks becoming embedded, providing a clear signal to markets.

Oil prices rose, but the Dow Jones fell 0.7% overnight, while the US 10-year Treasury yield climbed from 5.16% to 5.24%, a new multi-decade high.