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Aussie wavers ahead of Powell's testimony
Australian dollar moved in sideways trading on Tuesday after failing in holding yesterday's gains, as markets await Federal Reserve Chair Jerome Powell's testimony.
Aussie is holding its ground nonetheless against the US dollar as gold prices rose, underpinning aussie and preventing a noticeable decline.
AUD/USD last traded at 0.7859, compared to the opening of 0.7852, with a session-high at 0.7868, and a low at 0.7845.
Now markets await Fed Chair Jerome Powell's first testimony before Congress since receiving the job after Janet Yellen.
Otherwise, US bond yields gave up ground today amid uncertainty in interest rate expectations, with opinions oscillating between 3 or 4 hikes this year.
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