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AUD/USD holds 64c as US dollar rally pauses: Asian Open – 18th August 2023
The risk-off tone of the week continued through to European and US sessions yesterday, with Wall Street indices falling for a third consecutive day. The S&P 500 fell to a 27-day low and the Nasdaq 100 to a 36-day low. Hawkish FOMC minutes, weak data for China and a reactive PBOC further loosening policy has been a key driver of negative sentiment. Of, and of course reports of a liquidity crunch for China’s corporations also did their part with latest news of Evergrande not helping. China’s Evergrande Group filed bankruptcy protection in New York on Thursday, in a move to protect the company’s US assets ... (full story)