AUD/USD falls 0.6% to a low of 0.7636 on the day
The antipodeans are bearing the brunt of the dollar push today, with both the aussie and kiwi nearing the lows seen at the end of trading last week.
Despite the passing of Biden's $1.9 trillion stimulus bill, it hasn't quite been the happy story for risk assets as we see US futures slump with tech leading the drop.
Treasury yields keeping higher on the day just adds to the messy reaction and in turn, is keeping the dollar underpinned in European morning trade.
The higher dollar in turn is feeding into a softer mood across the market as well, with commodities retreating from earlier highs. Gold has pared its earlier advance in a fall to $1,690 while Brent oil is down to $69.50 from around $70.70 earlier.
Going back to AUD/USD, the pair is closing in on the Friday low @ 0.7622 and a break below that sets the stage for a test of 0.7600, with the swing region from the late January to early February lows seen in the region of 0.7564-92.
Following that, the 100-day moving average is the next key support level @ 0.7538.
