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committee also pushed back slightly about when the first rate cut will happen. Jay Powell noted that the Fed will be less likely to start cutting in March as many analysts were expecting. The Fed is battling a situation of high inflation and strong economic growth.
The AUD/USD pair has rebounded slightly from its lowest point this month. It now sits slightly below the key resistance at 0.6541, where it has failed to move above recently. This price is along the neckline of the inverse head and shoulders pattern that has formed recently