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Oct 11 - 06:55 AM

AUD/USD - Remains Sub-0.63 After Drop To 30-Month Low

By Rob Howard  —  Oct 11 - 05:00 AM
  • AUD/USD holds sub-0.63 after plumbing 30-month low of 0.6248 at 0459 GMT

  • Drop to 0.6248 influenced by yuan weakness (AUD often treated as CNY proxy)

  • See: nL1N31C090. Equity losses also weigh on the risk-sensitive AUD

  • Nasdaq closed at its lowest level since July 2020 on Monday nL1N31B20Q

  • USD supported by higher UST yields: 10-year up to 4% in Asia nL4N31C08D

  • Another 75 bps Fed hike expected Nov 2 (RBA delivered dovish hike last week)

Source:
Refinitiv IFR Research/Market Commentary

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