USD continues to drift lower reflecting ongoing geopolitical tensions as risk-off remains the dominant market theme. Investors await a gathering of world central bankers to discuss emerging issues, trends and the future (Thu – Sat) this week as the Kansas City US Fed hosts its annual symposium. AUD has appreciated 2% vs USD since last weeks lows of 78 cents. We expect it to consolidate in 0.7840 – 0.8040 range short term.
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