US healthcare bill delay hits Aussie; iron ore falls further
The AUD was mostly lower overnight as a delay in a key US healthcare bill unsettled markets.
The US’s healthcare bill was widely seen as a litmus test for the new US administration that has recently struggled with a number of legislative missteps.
The overnight delay saw equities and commodities lower.
The bill, which looks to reform the Affordable Care Act (widely-known as Obamacare), will be considered again tonight.
The AUDUSD fell 0.6%.
Ongoing falls in commodities, with iron ore dropping to ten-week lows, also hit the Aussie.
The Aussie continued to lose ground in European markets with the AUDEUR down 0.5%.
We saw further sharp falls in the AUDGBP after a strong result from UK retail sales. The AUDGBP was down 0.9%.
PMI in focus
Tonight’s focus will remain on US politics with the US healthcare likely to be reviewed overnight.
Importantly, global purchasing managers’ indexes are due and will give an updated reading on worldwide manufacturing activity.
By Steven Dooley -- Currency Strategist (APAC)
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