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The AUD/USD pair hovers around 0.7360, unable to advance despite the broad greenback’s weakness. Distrust in Australian economic recovery and the poor performance of equities weighed more. Q2 CPI figures awaited.
No change in rate policy or bond purchases expected. US economy appears to be slowing under labor, supply chain shortages. Treasury curve has flattened, inflation has jumped since the June 16 FOMC. Dollar has gained against most majors since mid-June.