FX News

AUD/USD Transfer:

The Australian Dollar (AUD) continued its run lower against the US Dollar (USD) as the week progressed clocking 0.6745 this morning as risk conditions soured. Dovish RBA minutes and poor data out of China weakened the AUD weighing on global sentiment. Fed’s Powell testified saying they have quite a way to go to bring down inflation but are making progress. He also suggested the economic recovery from the covid pandemic has been the strongest among the developed countries. They will likely raise rates in the coming months after holding steady last week, the downside is they may see a sharper than anticipated slowdown which could threaten a recession. Looking ahead we have Australian CPI y/y Thursday.

The current interbank midrate is: AUDUSD 0.6764
The interbank range this week has been: AUDUSD 0.6739- 0.6882

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