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AUD/USD remains sidelined between 0.7370 and 0.7350, recently bid near 0.7365, ahead of the key inflation data release. Being the risk barometer, the quote justifies the market’s cautious sentiment ahead of the Federal Open Market Committee (FOMC) verdict.
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.