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May 23 - 10:55 PM

AUD/USD - Under Pressure As US Yields Stay Elevated

By Krishna K  —  May 23 - 10:10 PM
  • AUD/USD drifts lower in Asia as traders push back Fed rate cut expectations

  • 25 bps Fed rate cut now fully priced only in Dec as inflation remains sticky

  • Higher US yields weigh on AUD ; 2-year yield holds at roughly 3-week peak

  • Traders await U.S. core PCE price index next Fri, key for Fed rate outlook

  • Downside limited as higher-for-longer RBA equally cautious on rates

  • Australia Apr retail sales, CPI data next week key for RBA rate expectations

  • Support 0.6580, resistance 0.6630-35, 0.6645-50; Asia range 0.6607-0.65945

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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