Australian Dollar Drops on Outlook for Interest Rates

The Australian dollar extended its losses against the US dollar today as the Asian stocks declined and on the speculation that the central bank would pause the interest rates increases.
The Reserve Bank of Australia raised the cash rate by 0.25 percentage points to 4.75 percent on November 2nd. The analysts say that the minutes of the meeting, released today, suggest that the rates may be kept unchanged in the near future. The MSCI Asia Pacific Index of regional shares dropped 0.2 percent.
AUD/USD declined from 0.9851 to 0.9802 today as of 13:55 GMT.

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