The Australian Dollar (AUD) reached 0.6400 midweek climbing off Monday’s open from 0.6310 against the US Dollar (USD) before reversing hard all the way back through 0.6300 as risk mood deteriorated Thursday. Geopolitical uncertainty has gripped markets with worry developing in the Middle East conflict. The Fed added to downside moves, saying they will keep policy higher for longer. Greenback demand evident, the US Dollar index surging. Early Friday we saw the cross post 0.6270, this is the lowest price in the pair since October 2022 and only the 4th time we have seen the cross trade this low this century. Looking ahead, next week we have the Fed rate release and statement and later (NFP) Non-Farm Payroll releasing. No change from 5.5% is predicted.
The current interbank midrate is: AUDUSD 0.6327
The interbank range this week has been: AUDUSD 0.6269- 0.6399