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AUDUSD has started the week on the back......>

AUSSIE
AUSSIE: AUDUSD has started the week on the back foot as the pair trades at
0.7050 just ahead of Friday's low at 0.7043. A break below here would open the
0.70 level and accelerate the downtrend. 
- AUDJPY is also under pressure but remains clear of the 80 level for now. The
failure of USDJPY to close above 114 on Friday is a negative sign for the cross.
- US-Australia real yield spreads continue to suggest further AUD weakness based
on the historical relationship, with the 10-year real yield spread now 23.8bps
in the US's favour, the highest since 2015.
- A break above 0.72 level is needed to improve the outlook.

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