Forex Today: RBA Hikes Rates to 4.35% - 05 May 2026

RBA Saw Higher Rates Needed to Manage Inflationary Risks from Energy Price Shock, Seen as Hawkish, Pushing AUD Higher; US Begins Military Action to Escort Vessels Through Strait of Hormuz, Trades Fire with Iran, Sinks "Fast Boats"; Gasoline, Brent Crude Oil Futures Close at Fresh Highs; Trump Does Not Follow Through on Iran Bombing Threat, Iran Bombs UAE Without Retaliation; Bitcoin Reaches New 3-Month High