The aussie is building on gains today, AUD/USD now at a high of 0.7388
It's a case of broad weakness in the dollar across the board as EUR/USD touches a high of 1.1671 while GBP/USD touches a high of 1.3182 on the day. Meanwhile, NZD/USD is also at the highs now of 0.6726 despite the kiwi being one of the weaker performers so far in trading.
Everything seems to be falling in place for the aussie currently with equities moving higher, PBOC stepping in to warn the market on the yuan, and bond yields also ticking higher. As for AUD/USD, it is looking to break the 200-hour MA now and that would turn near-term sentiment bullish - which could fuel a further run to the upside towards 0.7400 as mentioned here.
Despite the positive risk appetite in the market in the session, the kiwi is failing to get off the ground. This comes as AUD/NZD touches a four-month high after having broken the May highs. The technical play there is what is helping to keep the kiwi down along with poor data earlier where we saw business confidence touch a seven-year low.
