Prime News: Australian dollar skids as rate speculations escalate

The Australian dollar tumbled Monday as expectations of a US interest rate hike strengthened.

Bets for a September and October rate hike soared after remarks from Federal Open Market Committee members last week.

The Aussie stood at 64.12 euro cents from Friday’s 63.61 euro cents, and 71.64 US cents from 71.67 US cents.

On Tuesday, the Reserve Bank of Australia will unveil its decision on rate and its remarks about China’s outlook.

The material has been provided by InstaForex Company –