The Australian Dollar remained steady against both the US Dollar and the New Zealand Dollar on Monday as markets awaited the Reserve Bank of Australia's anticipated interest rate hike on Tuesday. According to FX Street, the AUD/USD pair traded around 0.7020, showing little change throughout the day.
Similarly, the AUD/NZD currency pair held nearly flat, hovering around 1.2390, reflecting cautious investor sentiment ahead of the central bank's announcement. FX Street noted that the RBA is expected to raise interest rates in its upcoming policy meeting, which is influencing market positioning.
For Japanese investors, the RBA's move is significant as it may impact regional currency flows and influence risk appetite in Asia-Pacific markets, including foreign exchange and equities.