March 6, 2023 – Written by John Cameron
STORY LINK Pound Australian Dollar Exchange Rate News: GBP/AUD Climbed amid Cautious Chinese Economic Targets
Australian Dollar (AUD) Quiet ahead of RBA Rate Decision
The Australian Dollar (AUD) came under renewed pressure on Monday in the wake of China’s modest GDP growth targets.
The world’s second largest economy outlined their less-than-ambitious economic targets for the year, with China targeting a 5% growth. Lower than market estimates, the cautious approach to the steadily improving economy dampened market sentiment. Iris Pang, Chief Economist for China at ING, said of the…
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