The below is another sign of the Pop.
As a nation importing 100's of things (including cars and petrol) to maintain a great lifestyle, no way can the RBA allow the AUD to drop much further.
- AUD/USD sellers extend control as 0.7200 caves in.
- Dollar’s strength, risk-aversion knocks off the aussie.
- Upbeat Australian jobs data ignored amid covid jitters.
The US dollar bulls remain unabated so far this Thursday, knocking off AUD/USD below the 0.7200 for the first time since November 2020.
The July Fed meeting’s minutes ramped up tapering expectations for the final quarter of this year, strengthening the recent bullish momentum in the US dollar across its main peers.
