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Sep 05 - 07:55 AM

AUD/USD - Respects Seven-Week Low As Iron Ore Climbs 4%

By Rob Howard  —  Sep 05 - 05:40 AM
  • AUD/USD holds above 0.6771 (Thursday's seven-week low) as iron ore climbs 4%

  • See: nL1N30C0DC. Iron ore is Australia's biggest export earner

  • Drop to threaten 0.6771 influenced by yuan fall to two-year low vs USD

  • See: nL1N30C0IR. AUD sometimes treated by traders as liquid proxy for CNY

  • PBOC to cut FX reserve ratio to help limit yuan weakness nB9N2VL076

  • RBA cash rate decision at 0430 GMT; 50 bps hike expected nL4N30C02D

Source:
Refinitiv IFR Research/Market Commentary

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