FX News

AUD/USD Transfer:

USD weakness over the past day or so has seen the Australian Dollar (AUD) push up from its recent low of 0.6460 back to 0.6580 into Friday trading. Buyers of the greenback should be considering these levels to buy as the Australian Dollar (AUD) gathers considerable pace on the downside. However, for now the Aussie is holding up with a turn of market risks sentiment and positive data publishing in the form of Construction and Housing. Fed officials have indicated they will most likely hold interest rates steady at the June meeting before raising them again last in the year. This gives officials time to study the effects on the economy from the past 10 consecutive hikes. We expect the bearish continuation in the cross to continue, a break about 0.6600 looks unlikely.

The current interbank midrate is: AUDUSD 0.6375
The interbank range this week has been: AUDUSD 0.6457- 0.6583

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