RBA Hints at Lower Rates: AUD Plummets Against USD

The Australian Dollar (AUD) suffered a significant drop against the US Dollar (USD) due to expectations of a dovish shift from the Reserve Bank of Australia (RBA). This comes amidst recent data suggesting cooling inflation pressures and signs of slowing economic activity. While UBS maintains a longer-term bullish outlook for the AUD/USD pair, currency traders are responding to the RBA’s communication with immediate volatility.