Australian Dollar Drops on Soft Inflation Data: Implications for Interest Rates and Global Currency Markets
The Australian dollar’s recent depreciation to below $0.657, hitting its weakest level in a week, has sent ripples through the forex market. This decline was triggered by unexpectedly soft inflation data, spurring speculation about a potential early cut in Australia’s domestic interest rates. Inflation and Interest Rate Expectations:Australia’s consumer price index (CPI) growth slowed to […]