Australian Dollar hits three-month peak on risk-on mood, eyes on Warsh
The Aussie Dollar climbed to a three-month high of 0.7198 on Thursday, even though the US Dollar steadied on solid jobs data and hawkish comments by Federal Reserve officials. The AUD/USD trades at 0.7194, up 0.34%.
The Australian Dollar hit a three-month high on Thursday, buoyed by a risk-on mood and anticipation of Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium. The AUD/USD pair climbed to 0.7198, rising by 0.34% from its prior level. Despite solid U.S. job data and hawkish remarks from Federal Reserve officials, the AUD/USD pair managed to outperform, outpacing the U.S. Dollar on solid consumer spending, despite a widening trade deficit.
Market participants will be watching Warsh's speech on Friday, as well as the upcoming University of Michigan (UoM) Consumer Sentiment Index for insights into inflation trends.
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