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RBA Minutes preview: AU-US 10-yr yield spread eyes range breakout

Despite failing to hold above 0.80 handle, the AUD/USD is mildly bid this Tuesday morning ahead of the RBA minutes release.

  • Read - When are the RBA minutes and how could they affect AUD/USD?

The spread or the difference between the Australia 10-year government bond yield and the US 10-year Treasury yield currently stands at 59bps. Over the last few days, the spread has widened from 47bps to 59bps, but still remains largely restricted to a narrow range of 60bps to 48bps . This explains the bullish exhaustion in the AUD/USD pair around 0.80 handle.

The yield spread may break higher in favor of the AUD if the RBA minutes focus more in the positives - strong labor market, improvement in business conditions and downplays risks arising out of household debt and strong Aussie dollar.

 

AUD/JPY - Indecision ahead of RBA minutes release

AUD/JPY daily chart carries a Doji candle, which indicates indecision in the marketplace ahead of the RBA minutes release. The currency pair hit a hi
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PBOC set the Yuan reference rate at 6.5530

The People's Bank of China [PBOC] set the Yuan reference rate at 6.5530 vs. Monday's fix of 6.5419.
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