• AUD/USD holds below 0.70 following its Asian session fall to 0.6963

• Drop to 0.6963 influenced by Asian stock losses (AUD is risk-sensitive)

• Kospi closed down 10.8%; Nikkei closed down 3.95%

• 0.6963 approximates to last Thursday's low. 0.6960 is 21DMA

• RBA Governor Bullock unsure if more rate hikes needed to tame inflation

• Australian Q2 CPI data due at 0130 GMT, before Fed rate decision

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(Robert Howard is a Reuters market analyst. The views expressed are his own)