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AUD/USD (AUDUSD=X)
| Previous Close | 0.6883 |
| Open | 0.6883 |
| Bid | 0.6882 |
| Day's Range | 0.6855 - 0.6904 |
| 52 Week Range | 0.6845 - 0.7661 |
| Ask | 0.6877 |
- Investing.com
Dollar Stabilizes; 20-Year Peak in Sight on Safe-Haven Demand
The U.S. dollar stabilized in early European trade Thursday, but still lies near its two-decade peak, given safe-haven demand on renewed worries about higher rates and a global recession. Falling U.S. bond yields have slowed the dollar's ascent Thursday, but the greenback remains in demand as a safe haven with central bankers continuing to express the need to tackle red-hot inflation, even at the expense of a sharp economic slowdown in global growth. Federal Reserve chair Jerome Powell, speaking on Wednesday at the European Central Bank’s annual forum in Portugal, defended the U.S. central bank’s recent 75 basis point interest rate rise - the largest hike since 1994 - as necessary to help bring inflation back down to its 2% target, even though a broader economic slowdown would be a "likely" outcome.
- Investing.com
Dollar Down Despite Central Banks’ Hawkish Comments to Tame Inflation
By Zhang Mengying
- FX Empire
AUD/USD Forex Technical Analysis – Tumbles after Powell Admits Fed Could Slow US Economy Too Much
Powell said there is risk the Fed’s effort to tame persistently high inflation with interest rate hikes will slow the American economy too much.
