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AUD/USD rises as the US Dollar pulls back
The US Dollar Index fell 0.30% to 100.95, helping AUD/USD trade around 0.7025 after a prior push toward 0.7000.
FXStreet reports AUD/USD edged higher on Friday, trading around 0.7025 at the time of writing and up 0.20% on the day.
The Australian Dollar gained as the US Dollar saw a moderate correction, with the US Dollar Index declining 0.30% to 100.95.
FXStreet noted the AUD/USD move comes while the pair remained on track for a sharp weekly decline after approaching the psychological 0.7000 level earlier in the day.
The outlet said the recent US currency strength reflected rising Treasury yields and expectations the Federal Reserve would continue tightening, with Fed officials including New York Fed President John Williams and Philadelphia Fed President Anna Paulson maintaining a hawkish tone.
Latest closeDollar index 101.29 ▲0.2%