AUD/USD slides to two-month low, weakens further below 0.6600 amid risk-off impulse – by hareshmenghani AUDUSD RiskAversion RBA Fed Currencies
session. Spot prices drop to a near two-month low, around the 0.6575 region in the last hour, and seem vulnerable to prolonging the recent downward trajectory witnessed over the past three weeks or so.
The global risk sentiment takes a hit after Fitch unexpectedly downgraded the US Long-Term Foreign-Currency Issuer Default Rating to 'AA+' from 'AAA', citing fiscal deterioration over the next three years. This, along with China's economic woes and the Reserve Bank of Australia's surprise decision to leave the Official Cash Rate unchanged for the second straight meeting, weighs heavily on the Australian Dollar .
Market participants now look forward to the US ADP report on private-sector employment, due for release later during the early North American session. Apart from this, the US bond yields will influence the USD price dynamics and provide a fresh impetus to the
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