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AUD/USD Seeing Modest Selling Pressure

AUD

AUD/USD is off -0.20% from NY closing levels. The pair last tracked close to 0.7075. The move lower in the A$ is line with some modest moves higher in the USD against the majors, although the AUD is underperforming slightly. Firmer US equity futures hasn't helped AUD/USD a great deal at this stage. AUD/JPY is back above 94.00 though, last 94.15/20, thanks to higher USD/JPY levels.

  • The dip in AU consumer inflation expectations (5.9% versus 6.3% previously) hasn't impacted sentiment a great deal. AU bond yields are mostly higher, the 2 up 3bps to 2.77%, likewise for the 10yr to 3.27%.
  • In the commodity space, iron ore is a little higher, back above $112/tonne. Gold is lower though ($1788 last), which is around the lows from yesterday's session.

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