The Australian-U.S dollar exchange rate may break out of its August trading range to the upside if the spread between the two countries’ bond yields keep widening.
The gap between Australian and U.S. 10-year yields increased to the most since November this week. The looming deadline for agreement on the U.S. debt ceiling may put a lid on the country’s interest rates, paving the way for the spread to widen even further.
Source: Bloomberg Pro Terminal
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