AUD/USD made a sharp U-turn in the late American session. US Dollar Index rose to a fresh monthly high above 91.40. 10-year US Treasury bond yield shot higher after FOMC Chairman Powell’s remarks. The AUD/USD pair came under strong bearish pressure in the late American session and lost more than 60 pips in the last hour. As of writing, the pair was down 0.45% on a daily basis at 0.7742. DXY advances toward 90.50 The renewed USD strength seems to be weighing heavily on AUD/USD. While speaking at an event organized by the Wall Street Journal, FOMC Chairman Jerome Powell said  that they would be concerned “by a persistent tightening of financial conditions broadly” and refrained from touching on the bond market turmoil. Powell Quick Analysis: Markets set to suffer for two more weeks as Fed mostly dismissed bond rout. With the initial market reaction, the 10-year US Treasury bond yield rose sharply and provided a boost to the greenback. At the moment, the US Dollar Index is  trading at its highest level in a month at 90.43, rising 0.53% on a daily basis. In the early trading hours of the Asian session, the AiG Performance of Services Index will be featured in the Australian economic docket but investors are likely to remain focused on the US T-bond yields and the USD’s market valuation. Technical levels to watch for  FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD plummets on Fed’s Powell, weekly structure back in fucus FX Street 1 year AUD/USD made a sharp U-turn in the late American session. US Dollar Index rose to a fresh monthly high above 91.40. 10-year US Treasury bond yield shot higher after FOMC Chairman Powell's remarks. The AUD/USD pair came under strong bearish pressure in the late American session and lost more than 60 pips in the last hour. As of writing, the pair was down 0.45% on a daily basis at 0.7742. DXY advances toward 90.50 The renewed USD strength seems to be weighing heavily on AUD/USD. While speaking at an event organized by the Wall Street Journal, FOMC Chairman Jerome Powell… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.