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Aussie Extends Losses After RBA Minutes

AUD

AUD/USD extended losses as the RBA released the minutes from their latest monetary policy meeting, which noted that the Board "considered the case for delaying the tapering of bond purchases to A$4bn a week currently scheduled for September 2021". The rate now trades down 25 pips at $0.7313, after touching a fresh one-month low, with AUD underperforming in G10 FX space. A break below $0.7290, which limited losses on Jul 21, would turn focus to Nov 24, 2020 low of $0.7284, followed by the 1.382 proj of Feb 25 - Apr 1 - May 10 price swing at $0.7235.

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