AUD/USD retreats from multi-month high, still well bid around 0.6800 mark amid weaker USD – by hareshmenghani AUDUSD Fed Bonds China Currencies
e pair, however, trims a part of its intraday gains and retreats to the 0.6815-0.6810 region during the first half of the European session.
Apart from this, a positive tone around the equity markets is seen as another factor undermining the safe-haven buck and benefitting the risk-sensitive Aussie. The AUD/USD bulls further took cues from a slight improvement in China's Caixin Manufacturing PMI, which unexpectedly rose to 49.4 in November from 49.2 in the previous month. The reading, however, marks the fourth successive monthly contraction amid widespread COVID-19 curbs.
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