AUDUSD pulls back after CPI-fueled rally, 200-hour MA in focus
AUDUSD fell from a weekly high of 0.7207 after hawkish Fed comments, with the 200-hour moving average now a key support.
The US dollar rose after Fed Chair Warsh's hawkish remarks; market sees 46% chance of September rate hike.
The US dollar moved higher as Federal Reserve Chair Warsh delivered more hawkish remarks. He remained reluctant to offer forward guidance, but the market now prices around a 46% chance of a September rate hike. That probability is up from the low 30s, though still below the roughly 60% level seen about a month ago.
Warsh's speech was longer than expected, lasting close to 30 minutes.
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AUDUSD fell from a weekly high of 0.7207 after hawkish Fed comments, with the 200-hour moving average now a key support.
USDCAD rose to test the 100-day moving average at 1.39140, driven by a stronger USD and higher US yields after hawkish comments from Fed Chair Warsh.
USDJPY broke above its 100-day MA and 160.00, reaching 160.15, backed by hawkish Fed comments and rising US yields.
EURUSD tumbled on hawkish Fed rhetoric, probing a crucial support cluster between 1.1587 and 1.1594 as yields and the dollar rallied.