Sell AUD/USD this week - Citi

FX Strategists at Citi suggested that selling the Australian dollar is the best trading bet this week.

The strategists recommend selling AUD/USD around 0.7838, with a target of 0.7600, and a stop of 0.7940. The spot is down -0.09% at 0.7820 levels, awaiting the RBA policy outcome for fresh impetus.

Oct 3, 2017

Dollar Index clocks fresh 7-week high of 93.89

Dollar Index [DXY] clocked a fresh 7-week high of 93.89 as the odds of the December Fed rate hike rose to 77% on the back of firm data releases. The

RBA leaves rates on-hold, a rising AUD would slow the economy

The Reserve Bank of Australia (RBA) at its October monetary policy meeting, kept the policy steady, leaving the official cash rate (OCR) unchanged at