π AUD/USD surges as US Dollar keeps dipping
The AUD/USD pair experienced a strong rally, hitting its highest point since June 3rd this year. This surge occurred while the US dollar was selling off amid concerns over soaring public debt. The DXY Index dropped to 98.56, reaching a low not seen since May 11 this year. This movement was boosted by the US Treasury's recent surprise buyback plan for bonds. Market attention is now on the potential for the AUD/USD to approach 72c at an 11-week high. π