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Jun 05 - 08:55 PM

AUD/USD - Holds Steady As Rate Expectations Ebb And Flow

By Krishna K  —  Jun 05 - 07:35 PM
  • AUD/USD settles into a 0.6630-0.6680 band within larger 0.6580-0.6700 range

  • Underpinned by rising bets of a Sep Fed rate cut as US economic data softens

  • Traders await Friday's highly anticipated US employment report for May

  • US yields drop as traders bet on softer jobs growth; 10-yr yield @ 2-mth low

  • AUD downside limited as RBA's higher-for-longer rate stance supports

  • RBA 25bps rate cut not fully priced in now till May 2025

  • Support 0.6625-30, 0.6600-05, resistance 0.6675-80, 0.6695-0.6700

  • Wednesday range 0.6664-0.66265

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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