Global Themes

Aussie bounces from two-month lows as greenback retreats

The US dollar snapped its four-day winning streak overnight as markets caught their breath after yesterday’s Federal Reserve minutes boosted US bond yields to multi-year highs.

The US dollar weakness saw the AUDUSD find support near two-month lows.

Earlier this week, the greenback had rallied strongly on expectations the US Fed would need to raise rates as many as three times this year.


Support

The AUDUSD found support near the recent lows and rallied 0.5%.

The Aussie was higher in most other markets.

The AUDEUR climbed 0.2% while the AUDGBP was up 0.3%.

The AUD fell versus the Japanese yen, down 0.5%, and the Swiss franc, down 0.1%.


Inflation, Fed-speak

Tonight will see further inflation reports with CPI numbers from Europe and Canada.

From the US, a number of Fed board members speak, including William Dudley and Loretta Mester.

AUD

Aussie bounces from two-month lows as greenback retreats

The US dollar snapped its four-day winning streak overnight as markets caught their breath after yesterday’s Federal Reserve minutes boosted US bond yields to multi-year highs.

The US dollar weakness saw the AUDUSD find support near two-month lows.

Earlier this week, the greenback had rallied strongly on expectations the US Fed would need to raise rates as many as three times this year.


Support

The AUDUSD found support near the recent lows and rallied 0.5%.

The Aussie was higher in most other markets.

The AUDEUR climbed 0.2% while the AUDGBP was up 0.3%.

The AUD fell versus the Japanese yen, down 0.5%, and the Swiss franc, down 0.1%.


Inflation, Fed-speak

Tonight will see further inflation reports with CPI numbers from Europe and Canada.

From the US, a number of Fed board members speak, including William Dudley and Loretta Mester.

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