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June, 03 - AUD/USD consolidates the corrective slide below 0.6950

AUD/USD is consolidating the sharp correction from five-month tops of 0.6983 reached in early Asia.

aud usd03062020The Australian Q1 GDP contraction broke the record growth period. The Aussie rallied hard on the narrative of a stronger economic rebound.

AUD/USD rises to 0.6915, intraday high of 0.6923, amid the recently high risk-on mood in the market during Wednesday’s Asian session. In doing so, the Aussie pair probes the highest since January 16, 2020, amid risk-positive news from the US as well as upbeat Aussie PMI data.

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