The AUD/USD briefly touched multi-month highs just below 0.6900 in early Thursday trading before settling back to cycle near 0.6850 as markets churn in the second-last trading day of 2023, with US Dollar flows setting the tone for the broader market. Money markets continue to pin their hopes and dreams on an accelerated pace of rate cuts from the Federal Reserve (Fed) in 2024, with investors betting on rate cuts to start as soon as March and pegging upwards of 160 basis points in rate cuts through the end of next year. With markets leaning into expectations of a major policy shift from the Fed in the coming months, ... (full story)