The Australian dollar held above $0.70, staying near a four-week high as hawkish commentary from the central bank boosted expectations of another interest rate hike. RBA Deputy Governor Andrew Hauser said tighter monetary policy was working, but warned that the inflation outlook remained “materially worse” partly due to elevated oil prices. He emphasized the need to keep inflation expectations anchored ahead of the RBA’s November 3 meeting, where policymakers will consider a fifth rate hike this year. Markets subsequently doubled the chance of a quarter-point hike in November to 64%. Attention now turns to third-quarter inflation data due next week, with core inflation expected to rise 1.0% quarter-on-quarter, up from 0.9% previously. Annual core inflation is also projected to remain at 3.5%, well above the RBA’s 2%-3% target range. Meanwhile, a technology-led global equity selloff over concerns about heavy AI investments weighed on risk-sensitive currencies such as the Aussie.
The AUD/USD exchange rate rose to 0.7032 on October 23, 2026, up 0.16% from the previous session. Over the past month, the Australian Dollar has strengthened 0.28%, and is up by 7.97% over the last 12 months. Historically, the Australian Dollar reached an all time high of 1.49 in December of 1973. Australian Dollar - data, forecasts, historical chart - was last updated on October 24 of 2026.
The AUD/USD exchange rate rose to 0.7032 on October 23, 2026, up 0.16% from the previous session. Over the past month, the Australian Dollar has strengthened 0.28%, and is up by 7.97% over the last 12 months. The Australian Dollar is expected to trade at 0.71 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.72 in 12 months time.