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AUD/USD rises on stabilizing commodities and new Treasury secretary appointment
AUD/USD rose to 0.6525, buoyed by stabilizing commodity prices and the appointment of Scott Bessent as US Treasury secretary by President-elect Trump. The US dollar weakened against several currencies, while upcoming economic events include the October CPI release and a speech by RBA Governor Michelle Bullock. Recent Australian inflation data showed a slight decline, with expectations for the October CPI to rise by 2.3% YoY, amid ongoing government cost-of-living rebates.
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