Dollar Firms Amid Overbought Indicators, RBA Hikes Again

The US dollar has continued its upward trend, maintaining a firmer bias in the market. Technical momentum indicators show overbought levels, suggesting that the aggressive pricing of Fed policy may be driving this trend.

The Canadian dollar has been falling for several sessions now, dropping for the sixth consecutive day and 13 out of the past 14 days. This decline is a notable feature in the current market landscape.

The Reserve Bank of Australia (RBA) raised its overnight cash rate target for the fourth time this year, marking another step in its monetary policy adjustments.