Fresh selling pressure in the US Dollar (USD) bolstered the recovery in the risk-associated universe, encouraging AUD/USD to reclaim the area beyond 0.6600 the figure on Thursday.
AUD/USD reversed part of the recent weakness. Renewed selling pressure hurt the US Dollar. The 200-day SMA holds the downside for the time being. Fresh selling pressure in the US Dollar bolstered the recovery in the risk-associated universe, encouraging AUD/USD to reclaim the area beyond 0.6600 the figure on Thursday.
During the subsequent press conference, Governor Michele Bullock maintained a balanced stance. Regarding interest rates, she noted that we might have to raise, we might not, indicating the board's consideration of rate hikes at the current meeting. At present, the swaps market has largely discounted the possibility of further rate hikes over the next six months, with a decrease priced in for the subsequent six months.
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