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Dec 11 - 08:55 AM

AUD/USD - A 13-Month Low Hit On US Dollar, Yield Dominance

By Christopher Romano  —  Dec 11 - 07:15 AM
  • AUD/USD hit 0.6389 in Asia, sellers emerged and the pair turned lower

  • A 13-month low of 0.6337 traded, NY opened near 0.6355, down -0.39%

  • US yield US10YT=RR gains helped drive broad based US$ buying

  • USD/CNH rallied on Reuters exclusive China considering weakening the yuan

  • Iron-ore DCIOc2, copper HGv1 drops helped to weigh down AUD/USD

  • November, October 2023 monthly lows are now likely targeted by shorts

  • Techs are bearish; RSIs falling, Aug. monthly low & trend-line broken

  • US Nov. CPI & its impact on Fed policy are they key risk for Wednesday

  • For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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