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The Australian dollar traded around $0.70, near an eight-week low as investors remained cautious ahead of the Reserve Bank of Australia’s monetary policy meeting. The losses came despite markets having largely priced in a 25-basis-point rate hike to 4.60% on Tuesday. Persistent inflation pressures have strengthened the
The Australian dollar hovered above $0.72 near multi-month highs as increasingly hawkish RBA signals lifted expectations for another rate hike this month. Markets price about a 69% chance of a 25-basis-point hike to 4.60% on Sept. 29.