AUD/USD HOLDS LOWER GROUND BELOW 0.6350 AFTER DISMAL AUSTRALIAN DATA
AUD/USD remains weak, staying below 0.6350 during Asian trading on Wednesday.
This is due to poor Australian economic data: lower-than-expected Construction Output and monthly CPI.
The bad data increases expectations that the Reserve Bank of Australia (RBA) may cut rates.
Risk-off sentiment is also putting pressure on the Australian dollar.
Despite this, the US dollar is relatively stable.
