-
AUD/USD Reverses Ahead of Yearly Low with Australia Employment on Tap
AUDUSD snaps the series of lower highs and lows carried over from last week even as the Federal Reserve delivers a 75bp rate hike in June, and the exchange rate may stage a larger recovery over the coming days as it appears to be reversing course ahead of the yearly low (0.6829). AUD/USD quickly retraces the decline following the Federal Open Market Committee (FOMC) interest rate decision as Chairman Jerome Powell tames speculation for a 100bp rate hike, with the central bank head indicating that a 50bp or a 75bp increase could be appropriate at its next meeting in July. chart The comments suggest the FOMC will ... (full story)