Gate News Report, March 13 — Mitsubishi UFJ analyst Derek Halpenny stated in a report that market expectations of oil prices rising due to the Iran war could prompt some central banks to raise interest rates. However, this situation would only benefit currencies of economies with resilient growth. He said, “Raising interest rates in a weak economic environment is usually seen as bearish for the currency.” Amid expectations of further rate hikes and rising energy prices potentially improving trade conditions, the Australian dollar has become one of the best-performing G10 currencies. Data from LSEG (London Stock Exchange Group) shows that the market currently prices in an 80% chance of the Reserve Bank of Australia raising interest rates by 25 basis points on Tuesday.
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