Renewed selling pressure in the US Dollar (USD) supported the rebound in risk-linked assets, prompting AUD/USD to climb back above the 0.6600 mark at the beginning of a new trading week.
AUD/USD left behind Friday’s pullback and regained 0.6600. Further downside pressure hit the Greenback on Monday. Further gains are likely while above the 200-day SMA. Renewed selling pressure in the US Dollar supported the rebound in risk-linked assets, prompting AUD/USD to climb back above the 0.6600 mark at the beginning of a new trading week.
During the subsequent press briefing, Governor Michele Bullock maintained a balanced view. Regarding interest rates, she indicated the board's consideration of potential rate hikes at the current meeting, stating, we might have to raise, we might not. Presently, the swaps market has largely discounted the likelihood of further rate hikes in the next six months, with a decline expected in the following six months.
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