AUD/USD Weekly Loss as Fed Rate Hike Bets Boost Dollar
AUD/USD finished Friday higher around 0.7171 but still lost 0.45% on the week as markets priced in a stronger chance of a Fed rate hike.
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The Australian dollar ended the session in positive territory against the US dollar, with AUD/USD trading around 0.7171 on Friday. Still, the pair could not avoid a weekly decline of 0.45%.
Pressure came from growing bets that the Federal Reserve will raise interest rates next week, which strengthened the US dollar and weighed on the pair over the week.
The technical picture pointed to a doji high acting as a barrier for bulls, keeping further upside in check.
Source: FXStreet Forex News