AUD/USD Slides Lower, Breaking Below 0.6700 Level

AUD/USD fell 0.37% on Monday as rising US Treasury yields supported the Aussie. Upbeat market sentiment failed to lift riskier currency the Australian dollar, which fell below the 0.6700 mark. At the opening of the Asian market on Tuesday, AUD/USD was at 0.6668, basically unchanged.

AUD/USD falls below 0.6700 as high U.S. Treasury yields support dollar moves

In terms of data, the U.S. economy performed mediocrely, but many Federal Reserve officials gave speeches. After the April data was released, Fed Vice Chairman Philip Jefferson said it was too early to tell whether the slowdown in inflation would persist. Vice Chairman for Supervision Michael Barr said restrictive policies would need more time to take effect, while Atlanta Fed President Raphael Bostic said rates were expected to remain stable.

At the same time, Australia will release the minutes of the Reserve Bank of Australia’s monetary policy meeting. “Judging from the tone of the post-meeting statement, we suspect that the decision to keep interest rates unchanged was not passed reluctantly,” analysts at ANZ wrote.

AUD latest articles

Popular exchange rates

foreign exchange

fxcurrencyconverter is a forex portal. The main columns are exchange rate, knowledge, news, currency and so on.

© 2023 Copyright fxcurrencyconverter.com