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AUD/USD Below Overnight Low

AUD

AUD/USD has dipped through overnight lows, dragged down by the weaker NZD. AUD/USD got close to 0.6905 before some support emerged. We are around -0.15% NY closing levels, last trading at 0.6910. NZD is off just over 0.60% (following the softer Q2 jobs report), so the AUD/NZD cross is higher, in line with rising yield differentials, but cross has seen some selling interest emerge around the 1.1100 level (last 1.1090). Broader USD momentum is still positive in early trade today. Outside of NZD, JPY is weaker by around 0.25%. This is helping AUD/JPY recover further, towards 92.25/30.

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