Australian Dollar Struggles for Momentum After RBA Rate Decision

The Australian Dollar remains weak as RBA Governor Bullock highlighted that the risks associated with rising inflation have diminished. The RBA kept the Official Cash Rate unchanged at 4.35% during its final policy meeting of the year in December. The US Dollar continues to strengthen in anticipation of the US Consumer Price Index data set to be released on Wednesday. The Australian Dollar (AUD) continues to decline after the Reserve Bank of Australia (RBA) decided to keep the Official Cash Rate (OCR) unchanged at 4.35% during its final policy meeting of the year. RBA Governor Michele Bullock, in a press conference, explained the decision to hold the interest rate at its 12-year high of 4.35% for the ninth consecutive meeting in December.

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