AUD: RBA seen as a little more dovish – ING

FXStreetMay 20, 2025 8:51 AM

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AUD/USD briefly sold off around 0.3% on the Reserve Bank of Australia's decision to cut rates 25bp today to 3.85%, ING's FX analyst Chris Turner notes.

AUD/USD can remain pretty steady near 0.65

"It looks like it might have considered cutting 50bp. The market prices 37bp of cuts by the 12 August meeting and has a landing zone of about 3.00% for the policy rate next year. With the jury still out on global demand as the tariff war rumbles on, we think AUD/USD can remain pretty steady near 0.65 over the coming quarters."

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