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Mar 08 - 07:55 AM

AUD/USD - On Route 0.66 After Lift From Powell-Spurred Low

By Rob Howard  —  Mar 08 - 06:05 AM
  • 0.6608 is AUD/USD high water-mark since its drop to 0.6568 on hawkish Powell

  • Powell sets the table for higher and possibly faster Fed rate hikes

  • 0.6568 was lowest level since Nov 10 (0.6647 was Tuesday's pre-Powell low)

  • Modest lift from 0.6568 aided by some profit-taking on short positions

  • Tuesday's high was 0.6748 -- before AUD slid on RBA's dovish 25 bps hike

  • See: nL1N35F08Y. Lowe says RBA closer to pausing on rate hikes

Source:
Refinitiv IFR Research/Market Commentary

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