# Australian Dollar Under Fresh Selling Pressure Pound, US Dollar As Westpac Increase Mortgage Rates | Exchange Rates UK

> The AUD/USD fell to weekly lows near 0.7275 after Westpac raised its variable mortgage rates. Weak Australian capex and building approval data added to the selling pressure, while a modest US dollar rebound also weighed.

- Date: 2018-08-29 · published 2018-08-29T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/63807-australian-dollar-under-fresh-selling-pressure-pound-us-dollar-as-westpac
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Expectations of fewer Reserve Bank rate hikes weigh on the Aussie. A weaker Australian dollar supports export competitiveness for Australian commodities.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/22804/australian-dollar-dives-against-pound-us-dollar-as-westpac-increase-mortgage-rates.html

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