# Aussie jumps on RBA hike, U.S. dollar edges higher

> The Reserve Bank of Australia raised its cash rate by 25 basis points to an 11-year high of 4.1%, warning further tightening may be required. The Australian dollar jumped to its highest since mid-May, near $0.6671 after touching $0.6686.

- Date: 2023-06-06 · published 2023-06-06T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/35759-aussie-jumps-on-rba-hike-u-s-dollar-edges-higher
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Tighter Australian monetary policy strengthens the Aussie, which can affect the competitiveness of Australian grain and meat exports.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2023/06/06/dollar-on-back-foot-after-weak-ism-aussie-awaits-rba.html

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