The AUD/USD pair holds steady above the 0.7200 mark through the Asians session on Thursday and remains close to its highest level since May 14, touched earlier this week. Traders seem hesitant and opt to wait for the key US inflation data for more cues about the Federal Reserve’s (Fed) policy path, which will drive the US Dollar (USD) and provide a fresh impetus to the currency pair.
In the meantime, USD bulls remain on the defensive amid a hawkish Bank of Japan (BoJ)-inspired rally in the Japanese Yen (JPY), acting as a tailwind for the AUD/USD pair. Furthermore, rising bets for another interest rate hike by the Reserve Bank of Australia…
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