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Oct 12 - 06:55 AM

AUD/USD - Holds Above 0.72 After Friday's Rise To 3-Week High

By Rob Howard  —  Oct 12 - 05:15 AM
  • AUD/USD elicited support pre-0.7200 in Asia after dropping on PBOC news

  • On Saturday, the PBOC said it was cutting its FX RRR to zero nL4N2H1080

  • News followed Friday's biggest one-day percentage gain for yuan since 2005

  • Friday's yuan rise helped inflate AUD/USD to a three-week high of 0.7243

  • The Australian dollar is often traded as a proxy for bets on China

  • IMM speculators raise exposure to the AUD by 13% in a week nL1N2H303U

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Refinitiv IFR Research/Market Commentary


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