Meanwhile, the pressure on US dollar has eased a bit on the back of FOMC’s “hawkish” tone yesterday. The highlighted solid economic growth and recent pickup in . Renewed rise in the US Treasury bond yields provided an additional negative boost to aussie as a higher-yielding currency.
In the short-term, AUDUSD may fail to preserve the 0.80 mark if the greenback manages to stage a local recovery. Tomorrow’s release of January Non-Farm Payrolls is likely to be the next catalyst for dollar pairs, including aussie. The ADP numbers were impressive: private-sector employment increased by 234,000, well above expectations for 185,000. Should the key figures on Friday also reflect strong job creation and wage growth, the greenback may partially retrace its losses across the market and send the Australian counterpart more decisively under 0.80, with the immediate support at 0.7965.