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Jan 23 - 07:55 AM

AUD/USD - Expiries Maintain Order Amid Ongoing China Focus

By Rob Howard  —  Jan 23 - 05:45 AM
  • 0.6583 is low water-mark for AUD/USD since its rise to 0.6612 (from 0.6565)

  • Ascent to 0.6612 was spurred by news report about China and its stock market

  • Beijing's support pledges scrape China stocks from lows, but scepticism high

  • AUD is often used as a liquid proxy for yuan - which rose on the news report

  • 0.6612 was 2 pips shy of Monday's AUD/USD peak (highest level since Jan 16)

  • Lots of big option expiries Wednesday, including 0.6580 and 0.6565 strikes

Source:
Refinitiv IFR Research/Market Commentary

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