29.08.202502:47:30UTC+00Aussie Dollar Rises to 2-Week High

The Australian dollar appreciated to approximately $0.654 on Friday, marking a fourth straight session of gains and reaching a two-week high, as the US dollar faced ongoing pressure. The US currency was weighed down by increasing expectations of a potential Federal Reserve rate cut next month, following indications of support for easing from Governor Christopher Waller, coupled with concerns about the central bank's independence after President Donald Trump's dismissal of Fed Governor Lisa Cook. The Australian dollar also gained traction from domestic inflation figures that exceeded forecasts, which tempered market expectations for immediate rate cuts from the Reserve Bank of Australia. However, minutes from the central bank's August meeting indicated that further reductions in the cash rate remain likely in the coming year, contingent on forthcoming data and global economic risks. Market participants are now eagerly awaiting the next manufacturing PMI release to gauge the country's economic momentum.