AUD/USD ascends to 0.6900 neighbourhood, nearly two-week high amid weaker USD – by hareshmenghani AUDUSD Fed Inflation Recession Currencies
Retreating US bond yields, a positive risk tone undermines the USD and extends support.The AUD/USD pair
A combination of factors force the US dollar to prolong its recent sharp pullback from a two-decade high, which, in turn, is seen lending support to the AUD/USD pair. The markets already seem to have priced in a supersized 75 bps rate hike by the Federal Reserve at the next policy meeting on September 20-21. Furthermore, a modest downtick in the US Treasury bond yields seems to weigh on the greenback.
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