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Australian dollar slips toward 0.69 as USD extends gains
AUD/USD was last at 0.6928, after the US Dollar rose for a fourth straight day as traders scaled back Fed hawkish expectations.
The Australian dollar drifted lower against the US dollar, with AUD/USD easing 0.26% to 0.6928, as the US currency extended gains for a fourth straight day, according to FXStreet.
FXStreet said the move came alongside continued trimming of Fed-hawkish bets, with Fed policymakers urging patience ahead of the October 28 meeting, while Minneapolis Fed President Neel Kashkari argued for more rate hikes.
In the background, FXStreet pointed to the US ISM Manufacturing PMI, which was little changed at 54.5 versus 54.6 the prior month and below forecasts, with New Orders improving and the Prices Paid measure jumping from 71.1 to 77.9, indicating higher energy prices.