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Oct 10 - 05:55 AM

AUD/USD - Drops To New Two-And-A-Half Year Low By 0.63

By Rob Howard  —  Oct 10 - 04:10 AM
  • AUD/USD hits 0.6305 after falling further from 0.6379 (Asian session high)

  • 0.6305 is lowest level for two-and-a-half years (0.5980 was April 2020 low)

  • Risk-sensitive AUD negatively impacted by Chinese equity losses nL1N31B03Q

  • Safe-haven USD in demand as Russia bombs cities across Ukraine nL8N31A0IM

  • Hawkish Fed expectations underpin USD (RBA delivered dovish hike last week)

  • 0.6350 is now an AUD/USD resistance level (stops below 0.6350 hit in Asia)

Source:
Refinitiv IFR Research/Market Commentary

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