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The Australian Dollar is on a corrective reversal from multi-month highs at 0.6870, reaching intra-day lows right below 0.6800 as the US Dollar pares previous days’ losses in a light trading session.
The Australian Dollar (AUD) continues to gain ground on Thursday as the US Dollar (USD) fell below the 101.00 mark, influenced by subdued US Treasury yields.
The AUD/USD briefly touched multi-month highs just below 0.6900 in early Thursday trading before settling back to cycle near 0.6850 as markets churn in the second-last trading day of 2023, with US Dollar flows setting the tone for the broader market.
The Australian Dollar (AUD) moves upward on Wednesday on improved risk appetite while the US Dollar (USD) could show signs of weakness in the speculation on a dovish stance of the Federal Reserve (Fed) on interest rates.
In Wednesday's trading session, the AUD/USD is seeing gains, currently at the 0.6843 level.