That said, the Aussie pair’s previous losses could be linked to the US Dollar’s rebound and downbeat Australia inflation numbers while the latest inaction is likely due to a lack of major catalyst, as well as mixed concerns about inflation and banking.
On Wednesday, Australia’s Monthly Consumer Price Index dropped to 6.8% YoY in February versus 7.2% expected and 7.4% prior. The reading followed downbeat and triggered a fall in the odds of witnessing another 0.25% rate hike from the Reserve Bank of Australia .