Australian Treasurer Chalmers: Interest rates are rising, it costs more and more to service debt

Early morning in Asia, ABC News unveiled comments from Australia’s Treasurer Jim Chalmers saying, “Australia not immune from the ‘deteriorating’ global outlook.”

The policymaker also mentioned that he remains optimistic about the near future of the Australian economy while speaking with the national public broadcaster ABC News.

Australia’s Chalmers also flagged tax hikes ahead.

AUD/USD rebounds

AUD/USD portrays a corrective bounce off a two-year low while picking up bids near 0.6535 of late. The reason could be linked to the market’s search for fresh impulse as well as a light calendar and a holiday in New Zealand.

Also read: AUD/USD eyes downside to near 0.6500, focus shifts to US Durable Goods data