AUD/USD strengthens near 0.6800 as risk flows pick up.

 

In a positive mindset, the AUD/USD is rising again over 0.6750. Risk flows and negative Treasury rates constrain the US Dollar bulls. Australian currency pair watches US ISM Manufacturing PMI and Fed Minutes.

With risk flows returning to Asia on Wednesday, the AUD/USD is firming up to retake the 0.6800 barriers and getting a new bid around about 0.6720.

The market is feeling better due to expectations for dovish Federal Reserve (Fed) Minutes, which support the higher-yielding Australian Dollar at the cost of the safe-haven US Dollar. The outlook for the Dollar is also being harmed by the resurgent weakening in US Treasury rates throughout the curve. The benchmark 10-year US rate is down 1.50% daily to 3.735%, while the US Dollar Index has fallen from levels close to 104.70 to 104.50 in Asia thus far.

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