On Wednesday, April 24, experts recorded a rapid decline in the Australian dollar. It suddenly fell after the publication of data on the consumer price index in the country. The slowdown in inflation also contributed to the decline in the cost of AUD.
According to Nick Twidale, Chief Operating Officer of Rakuten Securities Australia, in the event of increased sales of AUD on the London Stock Exchange, the Australian currency may become even cheaper and fall below 70 US cents. The expert is confident that in the near future, we should expect increased pressure on the "Australian".
At the moment, the price of the Australian dollar fell by 0.9% to $ 0.7037. Analysts believe this is the lowest rate since March 11 this year. The catalyst for the fall was the publication of data on the consumer price index in Australia for the first quarter of 2019. The Green Continent also recorded a slowdown in inflation, which had a negative impact on the AUD rate.
In the current situation, pressure on the regulator is increasing with respect to maintaining a soft monetary policy with the possibility of further lowering interest rates.
The material has been provided by InstaForex Company - www.instaforex.com