- AUD/USD pushes over 0.72 in the US session.
- US Dollar Index hits multi-week lows at 93.20.
- Risk sentiment drives trading on Friday.
The AUD/USD rallied to 0.7218 in the US session, the highest level in 3 weeks. AUD/USD trades +0.68% at 0.7215. The pair is on track for a second consecutive week of gains.
USD selloff gathers pace
A selloff in the US is underpinning AUD/USD pushing it higher. The US Dollar Index (DXY) settled in the red in the last two sessions and was extending losses further hitting a 3-week low at 93.20. DXY trades -0.37% at 93.23.
The risk on environment is making it hard for the USD to gain ground. European stock indexes also pushed northwards reflecting risk on trading the S&P 500 futures are up0.6%.
There is no more US macro data so risk sentiment is expected to continue to drive the USD.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
