Australian Dollar Falls 0.7% This Week, Approaches 0.70 Against USD Amid Rate Pressure

GateNews
According to Jin10, the Australian dollar weakened this week, trading around 0.71 against the U.S. dollar and recording a 0.7% decline, marking the worst performance among G10 currencies. The weakness stems from narrowing yield advantages over the U.S., with the AUD-USD interest rate spread compressing to its smallest level since November, according to AT Global Markets. "The Australian dollar has lost rate support to some extent. If the yield spread continues to narrow, AUD could face more damage than other major currencies," said AT Global Markets chief market analyst Nick Twidale. The pair may break below 0.70, with Middle East escalation potentially accelerating further declines.
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