FXStreet (Guatemala) – Jane Foley, Senior Currency Strategist at Rabobank explained that AUD is the second best performing major currency on a one day view.

Key Quotes:

“This month AUD/USD has found a more stable footing following a sharp move lower during the second half of May. Downside potential for AUD/USD this year has clearly been tempered by investors’ re-evaluation of Fed policy.”

“The loses in the AUD/USD in the latter part of 2014 and early 2015 were fed by market expectations that the FOMC could be voting for an interest rate hike as soon as June this year; this would bias interest rate differentials in favour of the greenback. Instead last week’s Fed policy meeting brought a downward adjustment in the trajectory for anticipated rate hikes during 2016.”

Jane Foley, Senior Currency Strategist at Rabobank explained that AUD is the second best performing major currency on a one day view.

(Market News Provided by FXstreet)

By FXOpen