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Australian dollar weakens again versus US dollar near 0.6950

FXStreet said the move is tied to still-elevated US Treasury yields, with the 10-year yield easing to about 5.27% after hitting 5.36% the prior day.

Reported · Written up by our desk · Major Pairs

FXStreet reported that AUD/USD extended its decline for a second consecutive day on Thursday, trading around 0.6950 and down about 0.20% at the time of writing.

The outlet attributed the Australian dollar’s underperformance to US Treasury yields that remain elevated, noting the benchmark 10-year yield eased toward about 5.27% after reaching 5.36% on Wednesday, its highest level since 2002.

FXStreet also pointed to expectations of further Federal Reserve tightening, citing the September FOMC Minutes released on Wednesday, which showed unanimous support for a 25-basis-point rate hike to a 3.75% to 4.00% range.

The report added that yields are being supported by factors including higher oil prices, fueling inflation concerns, along with fiscal uncertainty and resilient US economic growth.

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