AUD/USD struggles near one-week low around 0.7000 amid softer risk tone, USD strength – by hareshmenghani AUDUSD RBA Recession Fed Currencies
merican session. The pair is currently placed around the 0.7000 psychological mark and seems vulnerable to prolonging its recent pullback from the highest level since June 2022 touched last week.
The worst COVID-19 outbreak in China raises uncertainty about a strong recovery in the world's second-largest economy and continues to weigh on investors' sentiment. This is evident from a generally weaker tone around the equity markets, which is driving some haven flows towards the buck and weighing on the risk-sensitive Aussie.
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