Traders estimate the probability of an increase in interest rates in Australia at just 20% on Wednesday. This is a new sharp decline, with the chart showing that for the last two months it has dropped from 80% to 20%. The sharp change is influenced by expectations of a decline in consumer spending.
AUD is at the bottom of most major currencies. We can search for AUDUSD and AUDJPY short positions as the latest fluctuation of the dollar and the yen has created at least a small correction that is very likely to be used by traders. For the rest of the cross pairs, the price is close to the last bottom and we need to wait for a correction.
Source: Bloomberg Finance L.P.
Chart: Used with permission of Bloomberg Finance L.P.
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