The AUD/USD pair is declining toward the round-level support of 0.6400 in the early New York session.
AUD/USD falls to near 0.6400 as the appeal for the US Dollar improves. The US Dollar strengthens ahead of Powell’s speech. RBA Bullock kept hopes of further rate-tightening alive, citing that the progress in inflation declining to 2% has slowed. The Aussie asset is expected to continue its downside trend as the appeal for safe-haven assets has improved.
00 despite investors seeing that the Fed is done with hiking interest rates. The tight US labor market has started easing as business investment remained weak in the last quarter due to higher borrowing costs. Meanwhile, the risks of widening Middle East tensions have eased as market participants see conflicts remaining between Israel and Palestine. The Australian Dollar failed to gainstrengthdespite an interest rate hike from the Reserve Bank of Australia on Tuesday.
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