# Australian dollar saved by rate hike bets, bonds hammered - The Business Times

> The Australian dollar held near US$0.6648 after giving back its post-CPI gains, while reaching a 17-year high against the yen. Australian three-year bond futures fell to their lowest in seven months on rising rate-hike bets. Swaps implied about a 42% chance of an August RBA hike.

- Date: 2024-06-27 · published 2024-06-27T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/30057-australian-dollar-saved-by-rate-hike-bets-bonds-hammered-the-business-times
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Higher Australian rate expectations support the Aussie and raise funding costs for Australian agribusiness and farm borrowing. The move is driven by monetary policy and does not change the physical feed supply outlook.

## Read by commodity

- AUDUSD: neutral

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/banking-finance/australian-dollar-saved-rate-hike-bets-bonds-hammered

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.