AUD/USD starts off bid and eyes are on 0.7000/20 AUDUSD Currencies DollarIndex CPI RBA
nflationary data points that have kept the US dollar pinned down in recent times. AUD/USD is up some 0.225 at the time of writing after rallying from a low of 0.6959 to score a high of 0.6985.
Meanwhile, analysts at Rabobank explained that the risks that AUD/USD could dip back to the 0.67 level on a 3-month view on a combination of US recession concerns, a still hawkishand expectations that the RBA is close to a peak in policy. ''However, on the expectation that the Australian economy will avoid recession this year, we expect AUD/USD to find support and edge higher again in the second half of the year. We forecast a move to 0.71 in 12 months.
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