AUD/USD Extends Decline to Fresh Multi-Week Lows on Fed Hawkish Bets
The Australian dollar continued its sharp selloff against the US dollar, falling to levels not seen since early April as the greenback strengthened on expectations of an early Fed rate hike.
AUDUSD
AUD/USD fell for a second consecutive day, extending the steep bearish move from the 0.7000 zone. The pair hit its lowest level since early April, pressured by a stronger US dollar.
The dollar rally is driven by growing expectations that the Federal Reserve may begin tightening monetary policy sooner than previously anticipated. This has weighed on risk-sensitive currencies like the Aussie.
No additional details on specific catalysts or levels were provided in the original report.
Source: FXStreet Forex News