Australian Dollar Forecast: Yield Spike Offers Reason for Pause - Setups in AUD/JPY, AUD/USD Advertisement
Australian Dollar Outlook:
After hitting fresh yearly highs earlier in the day, both AUD/JPY and AUD/USD rates have turned lower, with potential bearish topping candlesticks taking shape.
The spike in developed market sovereign bond yields, but US Treasury yields in particular, has spooked investors, offering a sober reason for a pause in the recent unbridled optimism.
According to the IG Client Sentiment Index, AUD/JPY has a bearish bias while AUD/USD has a bullish bias in the near-term.
Australian Dollar Follows Risk Down