The resurgence of the selling bias in US Dollar (USD) lent much-needed oxygen to the risk-associated universe, favouring another positive day in the Australian currency and thus sending AUD/USD higher to the vicinity of the 0.6700 neighbourhood on Thursday.
AUD/USD added to Wednesday’s uptick and flirted with 0.6700. The Dollar retreated markedly following labour data and inflation prints. Australia ’s Inflation Expectations eased a tad in September. The resurgence of the selling bias in US Dollar lent much-needed oxygen to the risk-associated universe, favouring another positive day in the Australia n currency and thus sending AUD/USD higher to the vicinity of the 0.6700 neighbourhood on Thursday.
Nevertheless, RBA cash rate futures still show a high probability of a 25 basis point cut by the end of the year. Overall, the RBA is expected to be the last among G10 central banks to begin cutting rates. With the Federal Reserve expected to implement nearly fully priced-in rate cuts and the RBA likely to maintain a restrictive policy stance for an extended period, AUD/USD could experience further gains later this year.
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