The Australian Dollar (AUD) rebounded on Monday, recovering losses from the previous two sessions against the US Dollar (USD). The AUD/USD pair's upward movement was primarily driven by concerns over a potential slowdown in the US economy.
The Aussie Dollar also received support from stronger-than-expected GDP growth and trade data from Australia released last week.
On the monetary policy front, the latest Reserve Bank of Australia (RBA) Meeting Minutes indicated caution regarding further interest rate cuts, clarifying that February's rate reduction does not signal a commitment to continued easing.
However, the AUD may have faced downward pressure following disappointing Chinese Consumer Price Index (CPI) data for February, given China's role as Australia's largest trading partner, released on Saturday.
Source: FXStreet
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