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Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

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Australian dollar suffers after RBA withholds another rate hike

Learn how markets reacted to the latest RBA meeting by analyzing pairs like AUD/USD and AUD/JPY.

Source: Bloomberg
Forex Australian dollar Interest rate United States dollar Japanese yen AUD/JPY
Written by: Glen Frybarger | Content Strategist, US
Publication date:

RBA interest rate decision

This week the Reserve Bank of Australia elected to hold interest rates at 4.1% against a forecasted 25 bps hike. This is the second consecutive meeting holding interest rates constant; both times citing the need for more time to evaluate the impact of prior rate hikes.

Markets moved against the Australian dollar Tuesday as a result. AUD/USD closed over a percent lower from its 0.6693 open, and EUR/AUD gained over 200 pips. AUD/JPY lost almost all the gains from Monday - but still retained weekend strength over an uncertain yen. The pair has moved over 400 pips from last Thursday.

AUD/JPY historical prices

AUD/JPY price action Source: IG

How to trade Australian dollar

  1. Open an account to get started, or practice on a demo account
  2. Choose your forex trading platform
  3. Open, monitor, and close positions on AUD pairs

Trading forex requires an account with a forex provider like IG. AUD pairs can be found in IG's platform underboth the 'Major' and 'Minor' pairs tab. Many traders also watch major forex pairs like GBP/USD and USD/JPY for potential opportunities based on economic events such as inflation releases or interest rate decisions. Economic events can produce more volatility for forex pairs, which can mean greater potential profits and losses as risks can increase at these times.

You can help develop your forex trading strategies using resources like IG’s Trading Academy. Once your strategy is developed, you can follow the above steps to opening an account and getting started trading forex.

Your profit or loss is calculated according to your full position size. Leverage will magnify both your profits and losses. It’s important to manage your risks carefully as losses can exceed your deposit. Ensure you understand the risks and benefits associated with trading leveraged products before you start trading with them. Trade using money you’re comfortable losing.

This information has been prepared by IG, a trading name of IG US LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. See our Summary Conflicts Policy, available on our website.

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Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. You may lose more than you invest. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. The information on this website is not directed at residents of countries where its distribution, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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