Australian Dollar Weakens Amid China’s Rate Cut; Market Eyes U.S. Presidential Race and Central Bank Moves
The Australian dollar (AUD) held below $0.665, hovering near its lowest levels in over three weeks. The currency’s recent decline was driven by China’s unexpected decision to cut key interest rates, which negatively impacted the AUD due to Australia’s economic reliance on exports to China. Furthermore, weaker commodity prices also pressured the local currency, given […]