AUD/USD barely holds 0.6600 amid US credit downgrade, eyes on US ADP Employment Change – by anilpanchal7 AUDUSD RBA Fed RiskAversion RatingAgencies
AUD/USD portrays a corrective bounce at the lowest level in a month after falling the most since March.
Fitch Ratings downgrades the US government's credit rating to AA+ from AAA while terming fears of the debt crisis as the key catalysts on late Tuesday. Following the announcements, the White House and US Treasury Secretary Janet Yellen rushed to criticize the move and defend the US Dollar but failed of late.
On Tuesday, the Reserve Bank of Australia defied market forecasts by keeping the benchmark rates intact at 4.1%, marking the second consecutive status quo after challenging the two hawkish surprises in the lastmeeting in July.
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