Forex
AUD Weakens Ahead of Key US Inflation Data
The Australian Dollar (AUD) weakened to near 0.7200 against the US Dollar (USD) on Thursday, as traders await the release of the US Producer Price Index (PPI) inflation data later this week.
Rising tensions in the Middle East could also weigh on riskier currencies such as the AUD, while traders raise their bets on an interest rate hike by the Federal Reserve (Fed) following stronger US jobs data.
The market is pricing in about 60% odds of an interest rate hike at the Fed's policy meeting next week, according to the CME FedWatch Tool.