AUD/USD gains 0.4% as Asia FX strengthens ahead of FOMC meeting
AUD/USD has advanced 0.4% to 0.6750 during Asian trading, supported by broad US dollar weakness and positive risk sentiment ahead of the Federal Reserve meeting. The Australian dollar is benefiting from a general rally in Asia-Pacific currencies, with USD/JPY dropping below 141.00 and NZD/USD climbing above 0.6200. Fed officials Cook and Miran's attendance at Wednesday's FOMC meeting has heightened expectations for policy accommodation, with markets now fully pricing in at least one rate cut. The Aussie has broken above resistance at 0.6730 (20-day moving average), targeting the 0.6780 level next. Chinese economic data due later this week could provide additional catalysts for AUD movement. Traders remain cautiously optimistic, though any hawkish Fed surprise could quickly reverse recent gains in commodity currencies.
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