AUD/USD rises amid concerns
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The AUD/USD pair struggled to build on the previous day's gains from the 0.6385 area or above a one-week low and fluctuated between slight gains/losses during the Asian session on Friday. Spot prices are currently trading just above the 0.6400 mark, although the fundamental backdrop supports the prospect of a further bearish move in the short term.
Australia's private sector business activity returned to growth in September after two straight months of decline, a survey showed, providing some support to the AUD/USD pair.
However, the underlying bullish sentiment surrounding the US Dollar (USD), underpinned by the Federal Reserve's (Fed) hawkish outlook, serves to limit any potential for meaningful upside for the AUD/USD pair
Australia's private sector business activity returned to growth in September after two straight months of decline, a survey showed, providing some support to the AUD/USD pair.
However, the underlying bullish sentiment surrounding the US Dollar (USD), underpinned by the Federal Reserve's (Fed) hawkish outlook, serves to limit any potential for meaningful upside for the AUD/USD pair
Note
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The DXY index (which measures the greenback's fluctuations against 6 major world currencies) traded at 105.5 points.
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