Analysts at ANZ explained that Easter was marked by a general firming in the USD, driven by Q4 GDP and further hawkish remarks by Fed speakers.
Key Quotes:
“However, last night’s personal consumption report saw some of this USD strength unwind.
The AUD will continue to trade with global sentiment and commodities. Overnight, Yellen’s speech is the main event, while key data risk is up later this week with US Payrolls, ISMs, and global PMI results. All of these could drive added volatility.”
(Market News Provided by FXstreet)