# AUD under pressures as banks move on interest rates - OFX

> The Australian dollar was one of the worst performers overnight, falling to about 0.73 after Westpac raised variable mortgage rates by 14 basis points. Analysts say the move reduces the chance of an RBA rate hike, with the first hike now priced for Q3 2020.

- Date: 2018-08-29 · published 2018-08-29T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/63809-aud-under-pressures-as-banks-move-on-interest-rates-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Reduced expectations of RBA tightening keep the Aussie under pressure. Renewed risk-on sentiment from US trade deals partly offset the weakness.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2018/08/30/aud-under-pressures-as-banks-move-on-interest-rates/

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