FX News

AUD/USD Transfer

The Australian Dollar (AUD) recovered off 0.6460 midweek against the US Dollar (USD) making back early week losses on its way to 0.6570 this morning. The Fed held interest rates on hold at 5.5% as widely expected extending a wait and see model, Powell saying inflation setbacks could keep policy in place “higher for longer” and rate increases were certainly not required. Data dependant we believe a shift to policy and potential rate cuts could kick off earlier towards year end. Markets await US Non-Farm Payroll numbers late tonight with unemployment predicted to come in at 3.8% and jobs numbers around 238k, we are expecting the cross to go lower if the report is strong.

The current interbank midrate is: AUDUSD 0.6571

The interbank range this week has been: AUDUSD 0.6464- 0.6586


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