AUD/USD extends downside below 0.6750 as Fed-RBA to resume policy tightening

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• AUD/USD has slipped below  0.6750, however, the downside seems favored.
• The Fed is expected to raise interest rates by 25 bps to 5.25-5.50% as core inflation is still persistent.
• Tight labor market conditions in Australia are confirming the resumption of the policy-tightening spell by the RBA.

The AUD/USD pair has stretched its downside below the immediate support of 0.6750 in the European session. Weakness in the Aussie asset is backed by sheer strength in the US Dollar.