- AUD/USD touches new weekly lows at 0.6289, trading with losses of 0.32%.
- The University of Michigan’s Consumer Sentiment in the US deteriorates, with inflation expectations rising.
- China’s struggling economy and Middle East geopolitical tensions further dampen AUD sentiment.
The Australian Dollar (AUD) touched new weekly lows of 0.6289 against the US Dollar (USD) courtesy of a risk-off impulse even though negative data from the United States (US) crossed newswires, but so far failed to weigh on the buck. Hence, the AUD/USD is trading at around 0.6290 post losses of 0.32%.
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