Forex

Aussie rises after remarks by RBA's governor

2022-03-09 17:46:30 GMT (Economies.com)

Australian dollar rose on Wednesday as the greenback weakened against rivals, ahead of new remarks by Reserve Bank of Australia's governor Philip Lowe.

 

Lowe opened the door for a rate hike later this week, noting the risks that would accumulate if hiking rates was delayed by too much.

 

Lowe pointed to rapid inflationary pressures worldwide, especially with shortage of certain essential commodities.

 

Lowe lauded the improvements of the Australian economy and how inflation so far hovers near targets despite the worldwide chaos, while wages continue to improve as well.

 

AUD/USDD rose 0.6% as of 17:43 GMT to 0.7318, with an intraday high at 0.7338, and a low at 0.7264.

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