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FX.co ★ Australian Dollar Falls Ahead of RBA Minutes, Bullock Speech

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typeContent_19130:::2025-07-21T03:08:24

Australian Dollar Falls Ahead of RBA Minutes, Bullock Speech

The Australian dollar slipped below $0.65 on Monday, extending its decline from the previous week. Market sentiment remained cautious in anticipation of the Reserve Bank of Australia's (RBA) meeting minutes and an upcoming address by Governor Michele Bullock. This sentiment followed the RBA's unexpected decision to maintain its benchmark interest rate at 3.85%, defying widespread expectations of a 25 basis point reduction. Nevertheless, economists predict a gradual shift towards monetary easing later this year. Current forecasts suggest that the cash rate might fall to approximately 3.1% by early 2026, aided by a stable labor market and cautiously optimistic economic growth prospects. Concurrently, investors faced uncertainties regarding changing US trade policies, as Australia considered the implications of possible US tariffs of up to 200% on pharmaceutical products. While pledging to uphold fair trade practices, the Australian government affirmed that it would not compromise its current drug subsidy policies.

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