AUD/USD bounces off low amid softer USD, upside potential seems limited

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AUD/USD bounces off low amid softer USD, upside potential seems limited
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AUD/USD bounces off low amid softer USD, upside potential seems limited – by hareshmenghani AUDUSD Employment RBA Fed Currencies

A positive risk tone undermines the safe-haven buck and benefits the risk-sensitive aussie.The AUD/USD reverses an intraday dip to a three-day low and climbs back above mid-0.6200s in the last hour, though lacks any follow-through buying.

Rising bets for aggressive interest rate hikes by the Federal Reserve remain supportive of elevated US Treasury bond yields. In fact, the rate-sensitive 2-year US government bond stands near a 15-year peak and the benchmark 10-year Treasury note hits its highest level since the 2008 financial crisis.

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