The rebound continues
The Australian dollar shrugged off a momentary dip in equity prices and remains near the highs of the day, up 37 pips to 0.7808.
AUD/USD is now testing the 38.2% retracement of the drop at the end of February. That's at 0.7813.
I think we need to hear from the Fed (perhaps today with Brainard at 1800 GMT) on the gameplan for dealing with higher yields before we get a convincing move through this and in the broader FX market.
