The continuation of the upward bias in the US Dollar (USD) did not prevent its Australian counterpart from regaining some balance and encouraged the AUD/USD to print decent gains beyond 0.6500 on Thursday.
AUD/USD met decent contention around 0.6500. The pair regained pace despite the strong Dollar. Consumer Inflation Expectations in Australia rose by 4.6% in April. The continuation of the upward bias in the US Dollar did not prevent its Australia n counterpart from regaining some balance and encouraged the AUD/USD to print decent gains beyond 0.6500 on Thursday.
Given the Federal Reserve's firm stance on maintaining tighter monetary policies for an extended period and the prospect of the RBA embarking on an easing cycle later in the year, AUD/USD faces an increased likelihood of sustained and intensified downward pressure in both the short and medium terms. Somewhat bolstering the move higher in the pair, Australian Consumer Inflation Expectations tracked by the Melbourne Institute rose to 4.6% in April .
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