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AUD/USD: Expecting a range of 0.8565– 0.8710 - ANZ

FXStreet (Bali) - ANZ FX Strategists note that despite strong USD data, the USD failed to rally, allowing the AUD/USD to recover early losses, with the bank now expecting a range of 0.8565– 0.8710.

Key Quotes

"US CPI was a tenth higher than expected, while the Philadelphia Fed index was strong, and existing home sales grew 1.5% against expectations for a fall."

"Despite this the AUD remained above previous lows, and finished the day near its highs. While this indicates that short term positioning is large, the momentum in the US economy is getting hard to ignore and the USD should reassert."

USD/JPY offered on the Tokyo open

USD/JPY is trading at 118.15, up 0.13% on the day, having posted a daily high at 118.38 and low at 118.00.
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Thursday's data wrap - Westpac

Westpac Economics provides a wrap-up of Thursday's fundamental developments, with strong data in the US - CPI and Philly Fed business survey - the standouts.
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