The Australian Dollar extended its losses against the US Dollar for the second straight day, as higher US Treasury bond yields underpinned the Greenback.
AUD/USD drops 0.26%, pressured by higher US Treasury yields and risk aversion, contributing to a 0.70% two-day decline. RBA keeps rates steady; nuanced inflation comments lead to negative market reaction for AUD/USD. US Fed caution echoed by Boston Fed President Susan Collins, warning against premature rate cuts amid September cut expectations. On Wednesday, the AUD/USD lost 0.
She added that there are risks of cutting rates “too soon” and mentioned that the current policy is well-positioned and that it is “moderately restrictive.” Regarding interest rate expectations, the swaps market has largely discounted any further RBA rate hikes over the next six months, with a decrease priced in for the subsequent six months. On the US front.
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