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Nov 09 - 05:55 PM

AUD/USD - Slumps As Powell Pours Cold Water On Rate Hopes

By Krishna K  —  Nov 09 - 04:30 PM
  • AUD/USD extends drop in New York Thu as Powell pushes back on rate hopes

  • Pair down 0.55% as Fed Chief says won't hesitate to tighten if appropriate

  • Treasury yields surge on Powell's comments and weak 30-year auction

  • U.S. 10-yr yield jumps 16 bps from Asia's 6-week low of 4.4730%

  • Move seen more as a pullback after the 55 point drop from Oct 5.0210 high

  • Powell pushing back against rapid easing of financial conditions after FOMC

  • RBA Statement of Monetary Polcy awaited Friday for more clues on AU rates

  • Thu range 0.6428-0.63635; support 0.6360-65, 0.6320

  • Resistance 0.6360-65, 0.6320-30

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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