PBoC’s decision to leave rates unchanged helped regain some traction. A pickup in the US bond yields underpinned the USD and capped gains. The AUD/USD pair held on to its positive tone through the early European session on Monday and is currently placed at over one-month tops, above mid-0.6800s. Following an initial dip to an intraday low level of 0.6840, the pair managed to regain some positive traction and added to its recent strong gains in reaction to the Peoples Bank of China’s (PBOC) surprise decision to leave the benchmark rate unchanged. A modest USD uptick capping gains The coupled with the prevalent risk-on mood further drove flows towards perceived riskier currencies and provided an additional boost to the China-proxy Australian Dollar, albeit a modest US Dollar uptick kept a lid on any strong follow-through. A goodish rebound in the US Treasury bond yields underpinned the USD and eventually capped gains for the major. However, growing odds of another Fed rate cut in October might continue to weigh on the Greenback and help limit any intraday pullback. The pair remains at the mercy of the USD price dynamics and any incoming trade-related headlines amid absent relevant market-moving US economic releases on the first day of a new trading week. Technical levels to watch 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 USD/JPY upside appears to be losing traction – UOB FX Street 3 years PBoC's decision to leave rates unchanged helped regain some traction. A pickup in the US bond yields underpinned the USD and capped gains. The AUD/USD pair held on to its positive tone through the early European session on Monday and is currently placed at over one-month tops, above mid-0.6800s. Following an initial dip to an intraday low level of 0.6840, the pair managed to regain some positive traction and added to its recent strong gains in reaction to the Peoples Bank of China's (PBOC) surprise decision to leave the benchmark rate unchanged. A modest USD uptick capping gains The… 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.
