The AUD Plummets: Overview for October 03, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSD_9-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="AUD/USD analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD/USD</a> is hitting its lowest point in 11 months.</p>

<p>The Australian dollar is rapidly losing value against the US dollar this Tuesday. The present exchange rate for AUD/USD stands at 0.6324.</p>

<p>In today's meeting, the Reserve Bank of Australia decided to keep the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> steady at 4.1% per annum. The RBA highlighted in its remarks that there might be a necessity for future tightening in monetary policy.</p>

<p>This represents the fourth consecutive occasion when the interest rate has remained unchanged, in line with expectations. A sudden shift in economic data would be required for the RBA to rapidly alter its position.</p>

<p>As emphasized by the RBA, monetary policy tightening might be warranted to ensure a timely return of <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> to the target. However, this decision will be contingent on upcoming statistical data and evolving risk evaluations.</p>

<p>Based on current predictions, the likelihood of an interest rate increase during the November meeting is less than 30%.</p>

<p>The decline in the AUD exchange rate can be attributed to the pressure from the US dollar and the disparity in interest rates.</p>

<p>
<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a rel="nofollow" href="https://blog.roboforex.com/blog/2023/10/03/the-aud-plummets-overview-for-october-03-2023/">The AUD Plummets: Overview for October 03, 2023</a> appeared first at <a rel="nofollow" href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>