- 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.