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Could the currency wars save the AUD/USD bulls?

FXStreet (Guatemala) - AUD/USD is trading at 0.8617, down -1.24% on the day, having posted a daily high at 0.8730 and low at 0.8613.

AUD/USD is lower on the basis that markets are prepared for longer term requirements from the RBA for low rates. RBA Stevens said that rates will need to stay low for years, and the AUD/USD was too high.

As a result, AUS/USD is offered generally and 0.8620 is under pressure currently. The November lows are in view again now that 0.87 handle has been broken and 0.8000 is a realistic land mark on the bears map.

On the other hand, what will be interesting is whether the Fed will at some stage begin to mention any concerns that there may be for a higher dollar with a less competitive currency and being isolated in respect of raising interest rates in a global economy that isn’t quite prepared else where to compete on the same level.

In that respect, there may be a shift of opinion of the Fed’s timing of a rate hike and subsequently this might start to protect the downside in the Aussie. We have the FOMC coming up later this week and eyes will be focused in respect of timings and language around the subject of a rate hike from the Fed.

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