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AUD/USD lower on Dollar Gain ahead of rate hike

The AUD/USD Spot is retreating for the second consecutive session so far, opening the door for a test of the 0.7480 area, Fibo retracement of the 2016 up-move. A continuation of the USD rally was recently supported by hawkish comments by St. Louis Fed’s J.Bullard at his speech on Wednesday, keeping both commodities and high-beta currencies under further pressure today.
Focus US Data Today
The US calendar will take centre stage with Initial Claims and Durable Goods Orders due later today, while Q4 GDP figures will be in the limelight tomorrow.

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