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Jun 03 - 07:55 AM

AUD/USD - Deflated By Lower Iron Ore Prices

By Rob Howard  —  Jun 03 - 06:25 AM
  • AUD/USD drop to 0.6633 (intra-day low) influenced by lower iron ore prices

  • Iron ore is Australia's biggest export earner. 0.6665 was Asian session high

  • 0.6628-0.6672 was Friday's range. 0.6591 was Thursday's two-week low

  • Australia minimum wage to rise by 3.75% to A$24.10 per hour from July 1

  • US May ISM manufacturing index due at 1400 GMT; 49.6 f/c vs 49.2 in April

  • Australia orders Chinese investors to sell down stake in rare earths miner

Source:
Refinitiv IFR Research/Market Commentary

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