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AUD/USD Rate Stuck in Defined Range Ahead of Fed Meeting
AUD/USD is little changed from the start of the year as the Reserve Bank of Australia (RBA) remains reluctant to normalize monetary policy, but the Federal Reserve interest rate decision on June 16 is likely to sway the near-term outlook for the exchange rate as the central bank is slated to update the Summary of Economic Projections (SEP). AUD/USD appears to be reversing ahead of the monthly low (0.7645) as the Federal Open Market Committee (FOMC) is expected to retain the current course for monetary policy, and more of the same from Fed officials may keep the exchange rate afloat as long as the central bank stays ... (full story)