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AUD/USD Under Pressure As Fed Officials Maintain Hawkish Interest Rate Bias

by Ella

AUD/USD fell after Federal Reserve officials sent a hawkish signal that they would not cut interest rates immediately.

U.S. economic indicators strengthened, with the Philadelphia Fed manufacturing index hitting its highest level since April 2022.

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Australian employment data was disappointing, with fewer jobs and a slight increase in the unemployment rate, clouding the outlook for the Reserve Bank of Australia’s policy.

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AUD/USD is on the defensive after the opening of the Asian market on Friday. AUD/USD fell 0.21% on Thursday as Federal Reserve officials stressed there was no rush to ease policy. As of press time, AUD/USD was trading at 0.6419.

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