The AUDUSD is trading at session highs and trading up 0.70% on the day. The gain is only behind the NZDUSD which has moved up 0.80% so far today. The rise is being helped by a divergence of rates. The FOMC yesterday kept rates unchanged with what was perceived as a more dovish tilt. Meanwhile, the RBA is scheduled to meet on November 7th with the bias tilting to a rise of 25 basis points to 4.35%. Although the 10 year yield is down 3 bps today to 4.797%, the yield has moved from 3.963% to 4.797% or 83 basis points since September 1. Meanwhile, the US 10 year yield has moved from 4.06% to 4.71% today or 65 basis points. Taking a look at the 10 year spread since October 6th, the spread betw
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