Currencies On The Move After Bank Of Australia Raises Rates By 25BPS

<p>The Reserve Bank of Australia raised rates by 25BPS to 2.6%. "Governor Philip Lowe hinted that they would opt for a smaller than expected rate hike. The Australian Dollar price spiked lower initially and then rose back up," says Joe Perry. The British Pound rose for the sixth straight session and is on pace to post the longest rally since April 2021. Also, the U.S. Dollar pulled back as stocks rallied to start the fourth quarter.</p>