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Jun 08 - 05:55 AM

AUD/USD - Consolidates Losses To Two-Month Low

By Robert Howard  —  Jun 08 - 03:38 AM

• AUD/USD slid to 0.7016 in Asia, as stock losses hurt risk-sensitive AUD

• 0.7016 is two-month low. Kospi closed down 8.3% (biggest daily fall since March 4)

• Friday's low was 0.7038, as USD jumped on strong U.S. jobs data

• 0.7144 was Friday's high - before the U.S. employment report was published

• CFTC data showed net AUD long fell 30% to 41,812 contracts in week to June 2

• Decline followed 29% drop from 13-year high of 85,644 contracts in the prior week

AUDUSD


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

Source:
London Stock Exchange Group | Thomson Reuters
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