AUD/USD slips toward 0.7150 as hot US inflation supports Fed hike case
AUD/USD edged lower to around 0.7160 in early Asian trading Monday after hotter-than-expected US inflation data boosted the dollar and reinforced the case for Fed tightening.
AUDUSD
The Australian dollar traded near 0.7160 against the US dollar in early Asian hours Monday, easing toward 0.7150. The move came after US inflation reports surprised to the upside, lending support to the greenback.
Stronger US price data strengthened expectations that the Federal Reserve will maintain a hawkish stance, with attention now turning to the upcoming Fed interest rate decision.
AUD/USD remains under pressure as the US dollar benefits from firming rate hike bets.
Source: FXStreet Forex News