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11 Mar 2015
AUD/USD falls to fresh 5-year lows
FXStreet (Córdoba) - AUD/USD broke below the 0.7585 support area and stretched to fresh 5-year lows during the American session, as the greenback continues to strengthened across the board, dragging major peers to multi-year lows.
AUD/USD bottomed out at 0.7560, last seen May 2009, before finding support and recovering somewhat. At time of writing, AUD/USD is trading at 0.7580, still down 0.56% on the day.
The dollar remains underpinned by speculations the Federal Reserve could start raising rates in June following last week's strong payrolls figures. On the other hand, the RBA remains on the dovish side of the equation, with further cuts expected.
Investors’ attention turns to Australia employment figures to be released next Asian session. A 15,500 gain in employment is expected while the jobless rate is seen falling to 6.3% from 6.4%.
AUD/USD bottomed out at 0.7560, last seen May 2009, before finding support and recovering somewhat. At time of writing, AUD/USD is trading at 0.7580, still down 0.56% on the day.
The dollar remains underpinned by speculations the Federal Reserve could start raising rates in June following last week's strong payrolls figures. On the other hand, the RBA remains on the dovish side of the equation, with further cuts expected.
Investors’ attention turns to Australia employment figures to be released next Asian session. A 15,500 gain in employment is expected while the jobless rate is seen falling to 6.3% from 6.4%.