AUDUSD FOREX EXCHANGE ROSE MIDDAY Monday August 21
AUDUSD FOREX EXCHANGE increased 0.0015 or 0.19% to 0.7940 on Monday August 21 from 0.7925 in the previous trading session. Historically, the Australian Dollar reached an all time high of 1.10 in July of 2011 and a record low of 0.48 in April of 2001.
A fresh wave of greenback selling pressure has emerged over the past hour or so, lifting the AUD/USD pair fresh session tops, in the region of 0.7945-50 band.
AUDUSD FOREX EXCHANGE
Fading optimism over the US President Donald Trump’s pro-growth economic agenda, coupled with growing market consensus that the Fed might refrain from raising interest rates further in 2017 kept the US Dollar bulls on the back-foot and helped the pair to bounce off session low level of 0.7910.
Adding to this, a softer US Treasury bond yields, primarily led by the risk-off environment, was also seen driving flows towards higher-yielding currencies and collaborated to the pair’s up-move since the mid-European session.
Meanwhile, the prevalent positive tone around the commodity space, especially copper, provided an additional boost to commodity-linked currencies, including the Australian Dollar, and remained supportive of the pair’s move back closer to a two-week high touched last Thursday.