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Forex

AUD/USD Consolidates Amid Hawkish RBA Expectations and Rising Fed Hike Bets

Guavy AI Editorial Team
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USD AUD
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The Australian dollar (AUD) has remained relatively stable against the US dollar (USD), trading above 0.7150 after mixed fundamental cues.

Hawkish expectations for a Reserve Bank of Australia (RBA) rate hike and rising bets for an interest rate increase by the Federal Reserve (Fed) have had opposing effects on the AUD/USD pair.

Australia's trade data and China's Services Purchasing Managers Index (PMI) released earlier this month also had little impact on the currency pair, which continues to consolidate after a previous day's bounce from a nearly two-week low.

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