AUD/USD gained about 70 pips yesterday, underpinned by positive risk mood. Part of the story was RBA: after recent string of weaker data, they could've been more dovish but they weren't. The pair gave part of the gains back in the first hours of trading today, not helped by U.S. Gary Cohn's resignation and weaker than expected GDP from Australia. 0.77 - 0.79 is the current range, but for how long?
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