• AUD under pressure as bonds sell-off, weighs on risk appetite. Range: 0.7145-81

• U.S. 10yr yield breaks 4.75%, now at highest level since January 2025

• Eyes on the 30yr yield, currently at 5.28%, a break above the 5.34% YTD high would likely extend USD bid

• Dollar firmly in the ascendancy, underpinned by the hawkish Fed repricing

• Market implied odds now price a 67% chance of a Sept Fed hike, up from 60% on Monday

• With the USD bid broad based, AUD strength still looks better expressed on the crosses
US 10yr yield

Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))