By John Noonan — May 24 - 10:50 PM
AUD/USD remains under pressure in Asia after 1.0% fall on Wednesday
The US 2-year yield is 2 bps higher at 4.407% and supporting USD
Market is pricing in around a 60% chance Fed will hike 25 bps by July
AUD/USD has traded to fresh 6-month low at 0.6527 and is now around 0.6535
There isn't any support of note ahead of 76.4 of 0.6170/0.7158 move @ 0.6403
It broke below the 61.8 of that move Wednesday to add technical pressure
China demand concerns weigh as Dalian iron ore has fallen 10% in last week
Source:
Refinitiv IFR Research/Market Commentary