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Australian Dollar Gains on Possibility of US Rate Cuts

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Australian Dollar,US Dollar,Rate Cuts

The Australian Dollar (AUD) continues its winning streak for a third consecutive session on Friday on a possibility of the US Dollar (USD) moving on a downward trajectory. Federal Reserve (Fed) Chair Jerome Powell, in his second day of testimony before the US Congress, reaffirmed the central bank's position. Powell hinted at potential cuts in borrowing costs sometime this year. However, he emphasized that such actions would hinge on the inflation trajectory aligning with the Fed's target of 2%. Australian Dollar extends its gains, buoyed by improved market sentiment driven by a surge in equity markets. The S&P/ASX 200 Index has reached new record highs, following a tech-led rally on Wall Street overnight

The Australian Dollar (AUD) continues its winning streak for a third consecutive session on Friday on a possibility of the US Dollar (USD) moving on a downward trajectory. Federal Reserve (Fed) Chair Jerome Powell, in his second day of testimony before the US Congress, reaffirmed the central bank's position. Powell hinted at potential cuts in borrowing costs sometime this year. However, he emphasized that such actions would hinge on the inflation trajectory aligning with the Fed's target of 2%.

Australian Dollar extends its gains, buoyed by improved market sentiment driven by a surge in equity markets. The S&P/ASX 200 Index has reached new record highs, following a tech-led rally on Wall Street overnigh

 

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