The Australian Dollar (AUD) broke well below the game line Tuesday against the US Dollar (USD) clocking 0.6280, falling below support at 0.6350 a 1 year low. As risk sentiment returned the Aussie clawed back losses over the week to reach 0.6370 in early Friday. The new RBA governor Michele Bullock’s first meeting set the stage for a possible upcoming rate hike in November highlighting upside risks to inflation. All eyes now are now on 3rd quarter inflation with CPI still running hot. US Non-Farm Payroll releases late tonight expected to be a poor number based on midweek ADP suggesting a downside bias.
The current interbank midrate is: AUDUSD 0.6368
The interbank range this week has been: AUDUSD 0.6285- 0.6445