Mar 4, 2021 19:07 GMTFXStreet News
AUD/USD made a sharp U-turn in the late American session.
US Dollar Index rose to a fresh monthly high above 91.40.
10-year US Treasury bond yield shot higher after FOMC Chairman Powell’s remarks.
The AUD/USD pair came under strong bearish pressure in the late American session and lost more than 60 pips in the last hour. As of writing, the pair was down 0.45% on a daily basis at 0.7742.
DXY advances toward 90.50
The renewed USD strength seems to be weighing heavily on AUD/USD. While speaking at an event organized by the Wall Street Journal, FOMC Chairman Jerome Powell said that they would be concerned “by a persistent tightening of financial conditions broadly” and refrained from touching on the bond market turmoil.