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AUD/USD leaps to highs near 0.7620 on rate hike chatter
The Asian recovery seen so far in AUD/USD gained renewed traction, following hawkish comments ex-RBA board member Edwards, which sent the rate back beyond 0.76 handle. AUD/USD takes-out 0.76 handle, what next? The AUD bulls gathered pace and extended the rebound well beyond 0.76 handle, in a bid to retest 6-day tops reached yesterday at 0.7624 levels. The latest move higher can be purely attributed to the renewed hopes of RBA tightening sooner (than later), especially after former RBA board member Edwards noted: “It seems to me that something like eight quarter percentage point tightenings over 2018 and 2019 are ... (full story)