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Australian dollar rises on US dollar pullback as Fed pause bets hold

AUD/USD was at 0.6983 after the Aussie added 0.38% on Friday and gained 0.58% for the week.

Reported · Written up by our desk · Major Pairs

The Australian dollar ended Friday higher, extending weekly gains as the US dollar pared part of its weekly rise, according to FXStreet.

FXStreet reports the AUD/USD rate traded at 0.6983 after the currency rose 0.38% in the session and was up 0.58% over the week.

The outlet also cited US data showing the Consumer Sentiment Index for October fell to 46.3 from 48.1, missing estimates of 47.6.

FXStreet added that the survey showed inflation expectations increased for both the 1-year horizon, to 4.7% from 4.6%, and the 5-year horizon, to 3.5% from 3.4%.

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