#OPINIONLEADER# AUD/USD has risen sharply as the US dollar plummets below critical daily support. However, the W-formation is compelling, especially with the DXY now stabilizing at deeper support. There are prospects of a bullish correction in the US dollar for the sessions ahead.
Heating US inflation has been a risk-off catalyst, which did not happen this time, with the reading coming in line with expectations, although at a 40-year high. Stocks trade firmly higher, while US Treasury yields ticked lower, holding to modest intraday yellow metal losses.
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