AUD/USD marches firmly above 0.7000 as the USD weakens By christianborjon AUDUSD Majors Macroeconomics CentralBanks
iled its bullish bets, amidst a dampened market mood, with global equities falling. However, after reaching a daily low at around0.6940s, the AUD/USD bounced off that level and is gaining some 0.36%, trading at around 0.7025.Of late, the AUD/USD pared some of its earlier losses on the back of worst-than-expected. US Housing Starts declined -by 14.4%, while Building Permits followed suit, down -by 7%.
Details of the report were also strong reinforcing market wagers the Reserve Bank of Australia will deliver another half-point rate hike in July to reach 1.35%.
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