Author: Dennis Li
As the risk-off momentum continues to dominate the markets, we saw the AUD remain under pressure below 0.7100 against the USD. With the lack of significant economic data so far this week, the AUD had little movement broadly against other major currencies while crude oil dropped by more than 4% overnight as Saudi Arabia vowed to meet the demands of the world’s oil consumers amid a deepening crisis over the killing of journalist Jamal Khashoggi and upcoming US sanctions on Iran.
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