AUD/USD struggles below 0.6700 as market sentiment dwindles on inflation, banking concerns – by anilpanchal7 AUDUSD RiskAppetite YieldCurve Banks Inflation
That said, the Aussie pair’s previous losses could be linked to the US Dollar’s rebound and downbeat Australia inflation numbers while the latest inaction is likely due to a lack of major catalyst, as well as mixed concerns about inflation and banking.
On Wednesday, Australia’s Monthly Consumer Price Index dropped to 6.8% YoY in February versus 7.2% expected and 7.4% prior. The reading followed downbeat and triggered a fall in the odds of witnessing another 0.25% rate hike from the Reserve Bank of Australia .
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