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Indonesia News Portal for Traders | Financial & Business Updates

24 October 2024 16:33  |

AUD/USD Recovers Further from Over Two-Month Lows

The AUD/USD pair built on its steady intraday uptick through the first half of the European session on Thursday and recovered further from the lowest level since August 16, around the 0.6615-0.6610 region touched the previous day.The momentum lifted the spot prices beyond mid-0.6600s in the last hour and was sponsored by a modest US Dollar (USD) decline.

The USD Index (DXY), which tracks the greenback against a basket of currencies, retreated from near three-month highs amid a corrective slide in the US Treasury bond yields. Further, a subdued performance around equity markets prompted some profit-taking around the safe-haven US Dollar and benefitted the risk-sensitive Australian Dollar. That said, a combination of factors should limit any meaningful USD downside and keep the AUD/USD pair capped. (Cay)

Source : Fxstreet

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