The Australian dollar retreated from recent highs against other major currencies in the Asian session on Tuesday, despite the Reserve Bank of Australia raised its key interest rate by a quarter-point as risks to inflation remain tilted to the upside.
The policy board, governed by Michele Bullock, decided to lift the cash rate target by 25 basis points to 4.35 percent.
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Forex News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.