On Tuesday, further selling pressure on the US Dollar (USD) sparked another notable rebound in AUD/USD to the proximity of the 0.6500 hurdle, adding to Monday’s optimism and reaching new multi-day peaks.
AUD/USD advanced further and approached 0.6500. The Dollar’s sell-off lent support to the risk complex. Australia n inflation figures come next on the docket. On Tuesday, further selling pressure on the US Dollar sparked another notable rebound in AUD/USD to the proximity of the 0.6500 hurdle, adding to Monday’s optimism and reaching new multi-day peaks.
Both the RBA and the Fed are among the final G10 central banks expected to consider interest rate adjustments this year. With the Fed maintaining a firm stance on tightening monetary policies and the potential for the RBA to initiate an easing cycle later in the year, AUD/USD is likely to face sustained downward pressure in the short and medium terms.
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