The AUD/USD pair is hovering near the lowest level in February this year as market participants focus on the recent RBA and Fed decisions.
Trade AUD/USD NowThe AUD/USD declined as investors reacted to the heated debate between Scott Morrison and Anthony Albanese. The two party leaders deliberated on various issues such as inflation and the labor market.
The pair also declined as investors reacted to the recent economic numbers from the US and the Fed decision. On Friday, data by the American labor department showed that the labor market continued to strengthen in April. The Federal Reserve also sounded hawkish when it decided to hike interest rates by 0.50%. The rate hike was in line with what analysts were expecting. It also signaled that it will keep hiking interest rates and start a quantitative tightening process.
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