Australian Dollar Gains as US Dollar Remains Weak Amid Lower Treasury Yields
The Australian Dollar (AUD) strengthened against the US Dollar (USD) following the release of domestic Purchasing Managers’ Indexes (PMIs) on Thursday. Additionally, the AUD/USD pair strengthened as the USD weakened slightly, driven by a slight decline in US Treasury yields.The 2-year and 10-year US Treasury yields were at 4.07% and 4.23% respectively at the time of writing.
The AUD could gain further support from the prevailing hawkish sentiment surrounding the Reserve Bank of Australia (RBA), supported by positive employment data. Earlier this week, RBA Deputy Governor Andrew Hauser noted that the labor force participation rate is very high and stressed that while the RBA is data-dependent, it is not data-obsessed. (cay)
Source : Fxstret