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AUD/USD Back To 0.6900

AUD

AUD/USD continues to track lower, unwinding a good proportion of its overnight bounce. The pair was last just under 0.6900, around 0.50% below NY closing levels. Outside of NZD, it is the weakest performer in the G10 FX space so far today, although broad based USD gains are evident.

  • Weaker equity sentiment, particularly in China is weighing. Property stocks are down in early trade, while iron ore is back to a $103/tonne handle. Copper is also tracking lower. AUD/JPY is back to 94.45, but remains within yesterday's ranges. The firmer CNY fixing hasn't provided a lasting boost to sentiment.

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