Australian Dollar recovers losses as RBA Bullock highlights measured policy outlook
The Australian Dollar (AUD) declines against the US Dollar (USD) on Monday, extending its losses for the fourth successive session. The AUD/USD pair continues its losing streak as the Greenback remains stronger after the Federal Reserve (Fed) indicated no rush to lower borrowing costs quickly in the coming months after delivering an expected rate cut last week.
Reserve Bank of Australia (RBA) Governor Michele Bullock told parliament on Monday that labor market conditions have eased slightly, with unemployment ticking higher, though the market remains tight and near full employment. Bullock noted that recent rate cuts should support household and business spending, while stressing that the RBA must stay vigilant to changing conditions and be ready to respond if needed. The Board, she added, will continue to monitor data and evolving risks to guide its decisions closely.
The People’s Bank of China (PBOC), China's central bank, announced that it would leave its Loan Prime Rates (LPRs) unchanged on Monday. The one-year and five-year LPRs were at 3.00% and 3.50%, respectively.
The White House announced that US companies will take control of TikTok’s algorithm, while Americans will occupy six of seven board seats for its US operations. White House Press Secretary Karoline Leavitt said the agreement could be finalized “in the coming days,” though Beijing has not yet commented.
Source: FXstreet.com
