Aussie Dollar Edges Toward 0.7100 as Fed Hike Bets Fade
AUD/USD traded with mild gains near 0.7090 in early Asian hours Monday as fading Federal Reserve rate-hike expectations pressured the US dollar.
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The Australian dollar firmed against the US dollar in early Asian trading on Monday, with AUD/USD changing hands around 0.7090. The move came as market participants scaled back expectations for further Federal Reserve rate increases following weaker US economic signals.
The softer rate outlook weighed on the greenback, supporting the Aussie's advance toward the 0.7100 level.
Source: FXStreet Forex News