As political doubts translate into economic doubts in the US, the dollar is in for a rocky ride
The US dollar weakened in July, but the fall has halted following Friday's positive US non-farm payroll data.
The AUDUSD fell nearly 70 pips from its daily high of 0.8042, following the RBA's rate decision. The rate statement contained some positives as well as some negatives. The RBA noted that the continued rise of the Australian dollar may create an obstacle to growth and may delay inflation to reach the target, and added that the current labor market conditions are positive.
As political doubts translate into economic doubts in the US, the dollar is in for a rocky ride
Thanks to the second rate hike in June and worsening unemployment, weakening US data is keeping the Fed on its toes.
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