Australian Dollar stays subdued as risk aversion offsets China inflation, hawkish RBA
AUD/USD trades around 0.7245 on Monday at the time of writing, virtually unchanged on the day after opening the week with a bearish gap. The pair recovers its initial daily losses, but the Australian Dollar (AUD) remains weighed down by renewed risk aversion supporting the US Dollar (USD).
The Australian Dollar is likely to remain under pressure due to ongoing risk aversion, which may lead to further declines in AUD/USD. The pair could test lower support levels if market sentiment does not improve.
AUD/USD trades around 0.7245 on Monday at the time of writing, virtually unchanged on the day after opening the week with a bearish gap. The pair recovers its initial daily losses, but the Australian Dollar (AUD) remains weighed down by renewed risk aversion supporting the US Dollar (USD).
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