# Australian dollar boosted by surprise RBA hike to 0.35%. Where to for AUD/USD? | IG AE

> The Reserve Bank of Australia raised its cash rate target from 0.10% to 0.35%, a larger move than the 0.15% the market expected. The statement signaled more hikes ahead as inflation accelerates, and the Australian dollar rose toward 0.7140 before settling near 0.7100.

- Date: 2022-05-03 · published 2022-05-03T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/41660-australian-dollar-boosted-by-surprise-rba-hike-to-0-35-where-to-for-aud-usd-ig
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Higher Australian rates strengthen the Aussie against the dollar, making Australian grain and meal exports pricier for importers and modestly supporting the dollar's competitors in feed trade.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- ig.com: https://www.ig.com/ae/news-and-trade-ideas/australian-dollar-boosted-by-surprise-rba-hike-to-0-35---where-t-220503

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