The Australian dollar posted losses of over 0.40% against the US Dollar, and the latter remains supported by US President-elect Donald Trump’s tariff threats. At the time of writing, the AUD/USD trades at 0.6204 after bouncing off daily lows of 0.6187.
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AUD/USD appears to be on track to test the September low
AUD/USD appears to be on track to test the September low (0.7006) as RBA Governor Philip Lowe pledges to not increase the official cash rate (OCR) “for at least three years,” and it seems as though the central bank will offer a more details over the coming months as officials plan to update the economic in “early November.”
Technical Analysis – GBP/USD Gains some Ground But still below Descending Line
This level has become a key threshold for GBP/USD rates in recent times, with the current economic climate restricting any major advancements for the pound.