The AUD/USD pair retreats after touching over a one-month high, around the 0.6750-0.6755 region earlier this Wednesday and remains depressed through the first half of the European session. Spot prices currently trade around the 0.6730-0.6735 region, down 0.15% for the day, and for now, seem to have snapped a three-day winning amid a modest US Dollar (USD) strength.
The USD Index (DXY), which tracks the Greenback against a basket of currencies, recovers from its lowest level since January amid some repositioning trade ahead of the July FOMC meeting minutes, due for release later during the US session. Apart from this, a slight deterioration in the global risk sentiment turns out to be another factor benefiting the safe-haven buck and driving flows away from the perceived riskier Australian Dollar (AUD).
The downside for the AUD/USD pair, meanwhile, seems limited amid the Reserve Bank of Australia's (RBA) hawkish stance. In fact, the central bank had signaled that it would not hesitate to hike rates in the face of more upside risks to inflation. This, along with increasing chatters regarding big economic stimulus measures from China's government, could act as a tailwind for the China-proxy Aussie and lend some support to the currency pair.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
