AUD/USD DRIBBLES BACK FROM FED RALLY PEAK AT 0.6580
- AUD/USD tested into nine-day high after Fed knocked the Greenback lower.
- Soft Aussie GDP limits gains as markets await another Fed outing.
- US NFP Friday still looms over the horizon.
AUD/USD knocked into a two-week high near 0.6580 after Federal Reserve (Fed) Chairman Jerome Powell kicked the legs out from underneath the US Dollar (USD) on Wednesday. Fed Chair Powell noted that the Fed doesn’t see increased risk of an economic recession in the US this year while testifying before the US Congressional House Financial Services Committee. The head of the US central bank is expected to deliver further comments on Thursday when he appears for day two of the Fed’s Semi-Annual Monetary Policy Report.
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