The Aussie recovers from 0.6210 and erases the losses of the previous two days. Federal Reserve speculation and BoJ intervention hit the dollar. AUD/USD is expected to be a barrier below 0.6390. AUD showed a strong recovery during US trading on Friday. The pair bounced back from session lows at 0.6210, to levels just below 0.6380 and tracking declines over the past two days. USD DIVE ON FED SPECULATION AND BOJ INTERVENTION A Wall Street Journal news report on Friday indicated that Federal Reserve officials are ready to discuss a smaller tax rate in December, which has generally hurt demand for the US dollar. . The report offset the impact of hawkish rhetoric from members of the Federal Reserve. Just on Thursday, the president of the Federal Reserve Bank of Philadelphia Patrick Harker confirmed that the bank „will continue to raise interest rates for some time.” In addition, alleged intervention by the Bank of Japan and the Japanese Ministry of Finance generally boosted the yen. The USD fell more than 2.5% in a few minutes, hitting all the greenbacks. AUD/USD UNLIKELY UOB Longer term, UOB currency analysts remain skeptical about the possibility of a sustained bull run: “Our last story from Tuesday (18 Oct 29 50 Oct )) still holds. As highlighted, the AUD is likely to consolidate and is currently trading between 0.6190 and 0.6390.

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