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The Australian dollar rebounded from one-and-a-half-week lows to near 0.7600 ahead of the Federal Reserve's policy meeting. US producer prices rose more than expected in May, and markets had priced in another rate hike this year.
A short-covering bounce in the Aussie reflects anticipation of Fed tightening, which typically supports the dollar and pressures dollar-priced commodities.
economies.comRami HaddadJun 13, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
