AUD/USD: USD Index Bounces Back; Hampers AUD

The bounce back in the USD index is also hampering the AUD this morning with the index rising back above 87.05 after pulling back from the fresh recent highs above 87.20 that were made last week. The index will have to break above 87.30 to underpin the gains that have emerged on this index since May, which has aided the positive view for the USD. The index components are as follows with the EUR weighting at 57.6% followed by JPY at 13.6%, GBP 11.9%, CAD at 9.1%, SEK at 4.2% and CHF at 3.6%. AUD/USD continues to find support on dips under 0.7530 and trades at 0.7533.