According to Sean Callow, Research Analyst at Westpac, AUD/USD has been torn between the mostly poor global risk environment and the US dollar’s loss of some yield support.
Key Quotes
“The AU-US 2 year yield spread is close to the narrowest since late September. This should be enough for AUD/USD to keep finding support near 0.7200, with bounces extending towards 0.7350.”
“The main wild card remains US-China trade relations, with coming days likely to produce yet more conflicting media guidance on what presidents Xi and Trump will agree to – or not – at the G20 on 30 Nov.”
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