US dollar slumps after softer inflation, China rate cut. AUD/USD hits 18 month high ...Middle East

The Australian dollar is at the highest levels since February 2023 as part of a broad selloff in the US dollar following softer US inflation data and China cutting lending rates.The definitive break above 0.6900 in AUD/USD cracks the June 2023 high and a series of highs in that range. It's accelerated higher since.The Australian dollar is particularly leveraged to a better Chinese economy and the market is enthusiastic this week about a series of monetary and fiscal announcements to alter China's middling trajectory. Zooming out, the weekly chart for AUD/USD is showing a breakout.On the US dollar side, the slide in inflation gives the Fed more leeway to quickly lower rates. The market is alm

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