The Australian dollar held just below $0.62 on Friday, hovering near its lowest levels in over two years amid dovish bets on Reserve Bank of Australia monetary policy. ANZ Group, joining a growing number of banks forecasting an earlier rate cut, now expects the RBA to act in February rather than wait until May, citing signs of easing domestic inflation. Markets are now pricing in a 75% chance of a rate cut next month, a significant increase from 50% just days ago. Data released earlier this week showed that the country’s underlying inflation, measured by the trimmed mean, slowed to 3.2% in November from 3.5% in October. Externally, the Aussie also faced pressure from a strong US dollar as investors prepared for the December nonfarm payrolls report.