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The Australian dollar weakened against the U.S. dollar as traders anticipate the RBA's policy decision and reassess bets on a Federal Reserve rate cut.
The Australian dollar rose to $0.650 after a top RBA official signaled that third-quarter inflation might be higher than expected, causing markets to lower bets on near-term rate cuts.
The Reserve Bank of Australia warns the country's massive pension fund sector could amplify stress in a severe market crisis due to its enormous size.
The Australian dollar is gaining as the U.S. dollar weakens on concerns of a potential government shutdown and growing expectations of a Federal Reserve rate cut.
